New Hampshire Governor Says Gambling Foes Need Alternative
Governor John Lynch of New Hampshire challenged opponents of a plan to expand gambling in the state to find other revenue sources to cover the state;s looking budget deficit. Lynch said yesterday that unless alternatives were discovered, more gambling and a new capital gains tax would be necessary to raise the $150 million needed.
The state Senate has already approved a plan to introduce video slot machine gambling at select locations, including horse and dog race tracks. But the House is considered strongly anti-gambling, and unlikely to agree with the Senate's bill. Meanwhile, the Senate will most likely reject the House's capital gains tax measure.
Lynch has opposed gambling, and says he will offer a plan to expand property taxes to refinancing of mortgages, a measure sure to be unpopular with homeowners. The governor also proposes raises taxes on hotel rooms and restaurants from eight to nine percent,
While many have wondered why government budget deficits are not addressed by spending cuts, Lynch said that method is "simplistic and poor financial management."
Business organization criticized the governor's plan to avoid gambling increases, with one mortgage association saying that the ability to refinance homes is "critical to our state's economy."
