Business tax cuts: A plan for competitivenessEDITORIAL
March 03. 2015 9:42PM
Senate Republican plans to shave the state’s high business tax rates over the course of six years are responsible and practical. They also are the only serious proposal on the table for stimulating the state economy.
Democrats call the cuts “irresponsible,” saying the state will lose revenue. The Republican goal is to create jobs and improve the economy; the Democratic goal is to keep as much money as possible in the hands of politicians. The parties will disagree over the effect on state revenue, but no one should disagree that high business taxes are a drag on the economy. The research on this is very clear. Higher corporate taxes reduce economic growth and employment.
Every neighboring state offers some lower business tax rates than New Hamsphire does. These very small rate reductions are worth passing to make New Hampshire slightly more competitive and prevent her from falling further behind.