New Hampshire Needs Smokers

By Jim on October 2nd, 2008

Well according to this Lynch really needs smokers to pour into New Hampshire and buy a LOT of cigarettes! Hope those Taxachusetts smokers have their credit cards in hand and are on their way up or NH might be in big trouble…

Gov. John Lynch says New Hampshire’s budget could be short $100 million by summer and he’s looking at making cuts to ensure the spending plan is balanced.

Lynch released revenue numbers for September on Wednesday, and they were $46 million below estimates. A big chunk of the shortfall is in business taxes, reflecting the economic troubles facing the state and country.

Lynch says he will meet with legislative leaders and department heads to come up with a plan to balance the budget. He says he could be proposing spending cuts before the November election. He did not rule out layoffs.

Lynch estimated revenues would be off $200 million by next June 30, but previous cuts and revenue measures – including a disputed cigarette tax increase – would halve the hole.