With the New Hampshire General Court concluding its legislative session, lawmakers and advocates are reflecting on the outcomes of this year’s efforts. They are also considering priorities for the upcoming year.
In a piece published by NH Journal, State Representative Brian Labrie from Hillsborough 2-Bedford shared his perspective on legislative developments that benefit small businesses. Rep. Labrie, who is affiliated with NFIB and owns two small businesses, collaborated with NFIB NH to safeguard small enterprises from unfavorable mandates and tax hikes.
Rep. Labrie stated in his op-ed: “As a small business owner and state legislator, I approach every vote with one question in mind: Will this help or hurt the men and women who are working hard to keep New Hampshire running?”
He highlighted that small businesses achieved significant victories during this session but acknowledged more work remains. He expressed pride in their accomplishments and in preventing certain measures.
The most notable success was blocking HB 503, which proposed a $700 million tax increase that would have negated years of pro-growth tax reforms by raising the Business Profits Tax (BPT), Business Enterprise Tax (BET), and Meals and Rooms Tax. This bill was halted.
Looking ahead to the next session, Rep. Labrie outlined several objectives:
– Further reduce the tax burden. Although New Hampshire’s business taxes are relatively low compared to other New England states, it ranks 16th nationally. The BET specifically impacts payrolls, affecting hiring and investment decisions.
– Eliminate outdated regulations and enhance agency support for businesses. Despite being ranked as the 18th most regulated state, many homebuilders, retailers, and service providers face challenges due to unhelpful state agencies.
– Enhance health insurance access for small employers by supporting Association Health Plans and offering tax credits tied to BET for companies assisting employees with coverage costs through initiatives like Health Reimbursement Arrangements.
For further details on Rep. Labrie’s views, readers can refer to his full op-ed titled “LABRIE: Protecting the New Hampshire Advantage—And Expanding It” available at NH Journal.
