New Hampshire Policy Group Analyzes COVID-19's Effects on State Revenues
SUMMARY BY TAX ANALYSTS
The New Hampshire Fiscal Policy Institute published an issue brief examining the early effects of COVID-19 on the state's revenues, observing a 5.5 percent budget shortfall in two key funds for the first half of New Hampshire's 2020-2021 biennial budget and a projected shortfall of 9.1 percent for the second half; business profits tax, business enterprise tax, meals and rentals tax, and motor fuel tax receipts have declined significantly because of measures taken to help prevent the spread of the coronavirus.
The group called on the federal government for additional state aid to help fund key services in New Hampshire, noting that such funding is essential for supporting residents during and after the pandemic and building a more equitable economy during the state's recovery.