A New Hampshire think tank says the state can’t solve its budget woes by cutting spending alone.
Steve Norton is the director of the New Hampshire Center for Public Policy Studies. Norton told Senate budget and tax writing committee members yesterday they will need to raise taxes and get some help from the federal government.
Norton estimated the state could face a $500 million revenue shortfall over the life of the next two-year budget that begins July 1.
In his presentation, Norton offered some examples of big ticket items lawmakers could adopt as cost-saving measures. The largest single item would be eliminating the $50 million annual increase due for state school aid. Norton also estimated the state could save $20 million annually by implementing "good time" rules to release inmates who behave.