Valley News reports key opposition to Cap Gains

John Gregg reports in the Valley News that two Senate Committee Chairmen oppose instituting a Capital Gains Tax on New Hampshire:

2 N.H. Legislators Frown on New Tax

By John P. Gregg

Valley News Staff Writer

Prospects for passage of a capital gains tax in New Hampshire appear uncertain, with two key Senate committee chairmen yesterday saying they are opposed to the measure.

“I can only tell you that I have no desire to do a capital gains tax,” Senate Finance Committee Chairman Lou D'Allesandro, a Manchester Democrat, said in a phone interview. “If ever there was not a time for capital gains, it is now.”

Senate Ways and Means Chairman Bob Odell, a Claremont-area Republican, also said he opposes the tax, noting that many retirees move to New Hampshire because of its favorable tax climate for such income. “I think it would be a major change in the public policy we have on taxes,” Odell said. “I think that will get a lot of discussion and debate if it is brought forward. I haven't heard a lot of sentiment in the Senate for that particular tax.”