In the heart of New Hampshire's legislative chambers, a spirited discussion unfolded among members of the House Ways and Means Committee on May 20, 2025. The focus was on the future of business taxes and the state’s economic outlook, with representatives weighing in on the potential for growth and the need for adjustments to tax rates.

As the meeting progressed, optimism emerged from several committee members regarding the anticipated growth in business tax revenue from 2026 to 2027. One representative noted that the largest portion of business tax revenue comes from estimates reflecting current operations, suggesting a stable foundation for future projections. However, the conversation quickly turned to the uncertainty surrounding economic policies and their potential impact on New Hampshire's financial landscape.

Representative Southworth expressed a desire to increase lottery revenues, advocating for a modest adjustment based on new information. This sentiment was echoed by others who acknowledged the need for cautious optimism but remained wary of external economic factors, such as federal interest rate policies and international trade dynamics. Representative Opel highlighted the unpredictability of the current economic climate, emphasizing the risks of making bold predictions about future tax revenues.

Contrasting views emerged as Representative Boris voiced a bullish outlook on the economy, citing recent trends and the potential for significant growth. He pointed to the effects of tariffs and the resilience of the stock market, arguing that New Hampshire would benefit from a broader national economic upswing. His confidence stood in stark contrast to Representative Spar, who expressed concerns about a potential recession and advocated for a more conservative approach to revenue projections.

As the meeting drew to a close, the committee members found common ground on the need to reassess lottery revenues while grappling with differing perspectives on the overall economic outlook. The discussions underscored the delicate balance between optimism and caution as New Hampshire navigates its fiscal future, leaving many questions about the state’s economic trajectory and tax policies still unanswered. The committee's deliberations will undoubtedly shape the financial landscape for years to come, as they seek to align state revenues with the evolving economic realities.