Governor Chris Sununu Statement on U.S. House Passage of Tax Reform
Concord, NH - Today, following the United States House of Representatives passage of tax reform, Governor Chris Sununu issued the following statement:
"While important work remains, today's news is a step in the right direction. It reduces the number of tax brackets from 7 to 4, increases the child care tax credit by $600 per child, adds a $300 per person deduction for non-child dependents and spouses, eliminates incentives for businesses to outsource American jobs overseas, removes barriers to business repatriating earnings and investing in America, and eliminates the death tax. I am pleased that this plan will put more money in hard working taxpayers' pockets.
"As the process moves forward, I hope Congress will do more to help those caring for an elderly or sick person and preserve the adoption assistance tax credit. Providing for $10,000 in property tax deductions is welcome news, but we can and must do more to alleviate the property tax burden of Granite Staters.
"As the House and Senate work out the final details, I will continue to carefully examine its impact on Granite State taxpayers. Particularly, how these tax cuts will be paid for so as to not further bloat the federal deficit, raise taxes on the middle class or cut essential, core services. Overall, I am encouraged by the initial details and remain hopeful that as the legislative process moves forward, this bill will continue to improve."