Federal policymakers will consider tax changes benefitting higher-income Granite Staters in 2025

read more…: Federal policymakers will consider tax changes benefitting higher-income Granite Staters in 2025

The TCJA, when passed in 2017, included a 2025 end date for several key policies to reduce the projected ten-year cost of the entire piece of legislation. Different sets of assumptions led to an array of cost estimates from federal agencies for the legislation as written, ranging generally from $1 trillion to $2 trillion in forgone revenue during the ten-year window.

New Hampshire’s Median Household Income increased in 2023, poverty remained steady

read more…: New Hampshire’s Median Household Income increased in 2023, poverty remained steady

New data released by the U.S. Census Bureau provide key insights into the economic well-being of Granite Staters. The American Community Survey’s 2023 state-level data showed that median household income recovered to 2021 levels after adjusting for inflation, following a decline in 2022. While the median household income increased, the poverty rate held steady at 7.2 percent, reflecting that nearly 100,000 New Hampshire residents had very little income despite purchasing power growing for the median household.

Legislature passes bills to fund legal settlements, retirement system, and transportation while altering housing and child care laws

read more…: Legislature passes bills to fund legal settlements, retirement system, and transportation while altering housing and child care laws

New Hampshire’s 2024 legislative session resulted in key policy changes and investments proposed by the State Legislature. Although several have already been signed, many of these bills still await consideration by the Governor. While 2024 was not a State Budget year for the Legislature, available surplus funds, flexible American Rescue Plan Act dollarsand other federal resources, and borrowed money for capital projects resulted in initiatives that, if approved, would include significant investments.