I’ve worked on the last three state budgets, advocated on the prior four. In my view, the House Republican budget being heard before the Senate Finance committee today is more radical than even Bill O’Brien’s budget. Here’s why:
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It bans discussion of systemic inequality, cuts child care for working class, cuts K-12 education by close to $100 million, defunds reproductive health care, and cuts health care by close to $100 million. It provides tax giveaways to corporations & the wealthiest.
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There’s no reason to make cuts. As the prior chair of Senate Ways & Means, we made very conservative revenue projections, including for revenues from closing corporate tax loopholes. It worked. Despite a pandemic, there's a surplus. None of these cuts are needed.
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There's also no reason for tax giveaways to corporations & the wealthiest. According to right-of-center Tax Foundation, NH already has the 6th lowest overall business taxes. And over 80% of the cuts to the interest & dividends tax will benefit the wealthiest 10%.
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This is structural change – to favor those at the very top – while the working class & marginalized communities are left holding the bag. This doesn’t plan for our future, because it’s based on an ideology from the past. My hope is the Senate makes major changes.
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