Senator Dan Feltes Comments on Passage of HB 550

Concord, NH – Following the passage of HB 550 along a party line 14-10 vote, Sen. Dan Feltes, member of the Senate Ways and Means Committee released the following statement:

“What began as a special, 11th hour tax loophole for one company, and one former Governor with a profit-sharing interest in that company, has evolved into a major tax loophole that could allow all stock transactions by businesses and corporations in New Hampshire to be entirely tax-free. This tax cut is not accounted for in the budget, which is another reason why the budget is unbalanced. This far reaching tax change goes way beyond what the Business Tax Study Commission recommended to be reviewed to help start-up companies.”