What’s Behind the Decline in NH State Revenues?

In the latest episode of New Hampshire Uncharted, host Gene Martin sits down with New Hampshire Department of Revenue Administration Commissioner Lindsey Stepp and NHFPI Research Director Phil Sletten to explore why the state’s revenue outlook is dimming—and what it could mean for the upcoming budget. “I've been involved with revenue estimating at DRA since roughly 2010 in various roles, and I think that this is one of the hardest times that I've experienced in terms of estimating revenue for this upcoming biennium,” explained Stepp on the podcast. After years of surpluses, business tax revenues are falling, the Interest and Dividends Tax has been repealed, and policymakers are left with tough questions about how New Hampshire raises—and spends—its money.