December 26, 2013

N.H. finishes 2013 with $72M budget surplus

Democratic Gov. Maggie Hassan praises the legislature for working across party lines to pass a responsible, $10.7 billion budget.

The Associated Press

CONCORD, N.H. — The state of New Hampshire will finish 2013 with a budget surplus of $72.2 million.

A state report released Thursday notes that a stronger economy, lawsuit settlements and sound management helped the financial picture.

Business tax receipts were $33.7 million higher than anticipated while meal and room taxes were $14.1 million higher. Real estate transfer taxes were $12.2 million more than expected.

In 2013, the state got $20.8 million from the national tobacco settlement and another $9 million from a settlement with Hess over the gasoline additive MTBE.

Gov. Maggie Hassan praised the legislature for working across party lines to pass a responsible, $10.7 billion budget.

House Republican leader Gene Chandler says the good news should not be an excuse to increase spending and that the state should increase its rainy day fund.

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