GOP-Appointed CBO Director Makes Clear “Tax Cuts Do Not Pay For Themselves”
Concord, N.H. – As Republicans in Concord continue to refuse to negotiate in good faith on a responsible budget compromise, Senate President Chuck Morse admitted “he could not guarantee” that the unpaid-for corporate tax cuts Republicans are pushing would promote economic growth.
Morse added, “We never came in and said, we’ll lower the business taxes, and we’ll have all this growth.”
House Speaker Shawn Jasper previously admitted that Republicans’ unpaid-for tax cuts would create a massive budget hole, writing “I do not believe that cutting [corporate taxes] will bring in more revenue, nor do I believe that by themselves they will make New Hampshire a more attractive state for businesses to locate to or to expand.”
“It’s completely irresponsible that Republicans like Chuck Morse and Shawn Jasper are continuing to push unpaid-for corporate tax cuts that they themselves admit would create a budget hole while not promoting economic growth,” said New Hampshire Democratic Party Chair Ray Buckley. “All you have to do is look around the country at places like Kansas that have already tried these failed Koch Brothers economic policies to see that all they bring is rivers of red ink and cuts to critical economic priorities.”
The Hill also reports, “The director of the nonpartisan Congressional Budget Office (CBO), who was appointed by GOP lawmakers earlier this year, said Tuesday that tax cuts don’t pay for themselves… ‘No, the evidence is that tax cuts do not pay for themselves,’ Hall said. ‘And our models that we’re doing, our macroeconomic effects, show that.’”
Yesterday, Neal Kurk said out loud what observers have long known to be true: New Hampshire Republicans are playing political games with the state’s budget and economy.
When asked why Republicans blocked funding to pay for road maintenance, Kurk told NHPR, “some of it has to do with the fact that some of us believe that there are consequences to the Governor’s veto of the budget and one of them is that things that normally would have gotten done, will not get done, or will get delayed.”
The Concord Monitor also reported, “Partisan politics were on full display at the meeting Wednesday” as Republicans blocked transportation funding and tried to score political points against Governor Hassan.
“At least give Neal Kurk points for honesty for admitting that Republicans are deliberately seeking to hurt New Hampshire’s people, businesses and economy as they try to score political points against Governor Hassan,” said New Hampshire Democratic Party Chair Ray Buckley. “It’s no surprise that the Republican legislature’s approval is under water for the first time since 2012 considering that Republicans are now openly admitting that they are trying to harm the state’s economy for their own political gain.”