Gov. Hassan: No Large Expenditures After July Drop In Revenue
Governor Maggie Hassan is directing state agencies to put all large expenditures on hold, after shortfalls in revenue last month.
Hassan says specifically, there were shortfalls from the business taxes and interest and dividends tax.
She says meals and rooms revenue and other financial indicators remained strong in July.
"We must continue to work together across party lines to address these revenue trends and responsibly manage the state’s budget while protecting our bipartisan priorities.”
The governor says the freeze on spending, out-of-state travel and hiring she put into place earlier this year remains in effect.
Meanwhile, she is asking the consensus revenue estimating panel to provide updated revenue estimates.