Wed May 30, 2012
Tax Amendments Likely Headed to Ballot
It looks like tax policy will be front and center on ballots later this fall.
Lawmakers have agreed on two constitutional amendments that limit New Hampshire’s ability to tax its citizens.
When Republicans swept into the Legislature after the 2010 elections, they promised to focus on jobs and the economy.
Leadership in both chambers believe they’ve helped deliver on that promise by reaching agreement on constitutional amendments to install a tax cap, and another banning an income tax.
A cap would mean raising any taxes or fees would require a 60% vote from legislators.
Senate Majority Leader Jeb Bradley says of the two, he believes the income tax amendment does more to protect the so-called New Hampshire advantage.
“Putting that kind of protection in the constitution will be certainty for investors, for entrepreneurs, people who want to grow businesses here.”
Before either amendment makes it to the ballot, a super majority of lawmakers must support the proposals.
Both amendments require support from 2/3rds of the voters.
Critics say the plans make it more difficult to run the government’s affairs frugally.