, Derry, New Hampshire


November 1, 2012

Editorial: Lamontagne has right ideas on jobs, economy

Job growth and a revival of the economy are the most pressing issues facing New Hampshire voters this election.

New Hampshire is little different from the rest of the country. The state has been fortunate to see its unemployment rate remain below the national average. But while the country’s rate is trending lower, New Hampshire’s jobless rate is ticking higher, up to 5.7 percent in September 2012 from 5.4 percent in September 2011.

Democrat John Lynch has been an excellent governor. He surely deserves some of the credit for New Hampshire’s weathering the economic downturn as well as it has. As Lynch leaves the governor’s office, his replacement must be someone who is committed to lifting the state into full recovery, to promoting the business growth and expansion that will provide the jobs New Hampshire citizens need.

Ovide Lamontagne is the governor New Hampshire needs.

The Manchester Republican is solidly rooted in conservative economic principles. He understands that oppressive taxation stifles growth and kills jobs.

Lamontagne wants reform of New Hampshire’s two main business taxes: the business profits tax, an 8.5 percent levy on business income; and the business enterprise tax, a 0.75 percent tax on compensation, dividends and interest.

Lamontagne wants to extend tax credits to businesses based on the number of new, full-time employees they add. He wants to lower the state’s business profits tax from 8.5 percent to 8 percent. And he wants to streamline tax rules so that businesses spend less on paperwork and compliance.

Lamontagne says he will make up for any loss in revenue through further spending cuts.

Last year, The Republican-led Legislature slashed state spending 12 percent to produce a $10.2 billion biennial budget. The cuts hit hospitals and the state university system particularly hard. Perhaps the distribution of the budget-cut pain could have been better managed. But the principle was correct. The solution to New Hampshire’s budget woes is lower spending, not higher taxes.

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