Mon March 26, 2012
Gambling Has Shot In House
No bill authorizing slot machines or casinos has ever passed the N.H. house, but this plan, which would use the revenue -- projected at 290 million dollars -- to lower business taxes, is seen as having a shot. House ways and means chairman Steve Stepanek (r-Amherst) says N.H. must act.
“The game plan has changed because Massachusetts has expanded gambling passed. And Maine is pushing their expanded gambling. We have got to respond.”
Under the proposal, business enterprise tax rate would drop from .75 percent to .25 percent. The business profits tax, meanwhile, would be cut drop from 8.5 percent to 4.3 percent. The proposal has staunch backers and loud critic in both parties. The vote later this week is expected to be close. Governor John Lynch has promised to veto any gambling bill that reaches his desk.