CONCORD – House Republican Leader Dick Hinch (R-Merrimack) issued a statement following the House vote on HB686, extending the interest and dividends tax to capital gains. The bill passed by a 199-143 vote.
“New Hampshire has gone it’s entire history without a tax on capital gains. Democrats decided that today was the day to move forward with this new tax that could cost $100 million per year.
“This is a tax on investment, risk taking, and business creation. I can’t imagine this will help our robust business start-up community in the state, and it will discourage new companies from looking to New Hampshire to build and grow.
“I’m sorry to see such a lack of foresight by Democrats on this issue, and I apologize to our state’s investors and entrepreneurs that Republicans could not stop this bill at this stage of the process.”