Apr 7, 2019
Subject: SB 301
SB301 - not good for the NH advantage
Economists use what is called the "multiplier effect" to determine the impact of currency in markets. Every finding shows that the private sector funds cycle through the economy at a rate more than double spent by the government. The act of shifting money to the government harms the economy, and when you take it from a business, it makes the impact on the overall state economy worse.
Raising business taxes sends a strong message, not only to businesses here, but to other businesses that may be considering NH for expansion.
Profits come from delivering value to customers. Profits should be a good thing. It means you are delivering good value to customers. Raising business taxes sends the wrong message.
Next year the Senate will argue "level playing field" and raise taxes on small businesses.
I would argue, disperse the $50.4 million back to communities as planned for 2020 & 2021 combined and also would support Governor Sununu's veto of this bill.
Regina M. Barnes