To the Editor:
Since gaining control of the New Hampshire Legislature, the Democrats have flooded the State House with harmful bills designed to increase taxes on hardworking Granite Staters.
HB 735-FN-A is a proposed carbon tax that, if passed, would levy a fee on wholesale distributors of fossil fuel products sold in New Hampshire. Over the next 11 years, this huge sales tax would seize $10.9B from the private sector, ~$1.0B/year, and grow the State’s current $6.0B annual budget by 16%.
A carbon tax, like all taxes, is a government intrusion into the free market that confiscates wealth from those that produce it and disincentivizes work and investment. That is reason enough to oppose the proposed legislation, but there are additional and more specific grounds for opposition to a New Hampshire carbon tax.
First, the legislation would exacerbate New Hampshire’s already high-energy costs, which rank top five nationwide. Granite State residents and businesses would suffer from sharp increases in their electric, heat, and transportation costs, as well as pay a premium when purchasing any other product or service derived from fossil fuels.
A carbon tax would also grow New Hampshire’s government to outsized proportions by funneling ~$50M/year to state bureaucracies (DRA, DES, DPU). Unelected officials would wield immense power in collecting and redistributing the tax’s revenue with neither public accountability nor an understanding of their actions’ consequences.
Finally, the legislation would achieve only a negligible mitigation of climate change. Global CO2 concentrations would be curbed in no appreciable manner, yet New Hampshire, with 1/5500th of Earth’s population, would pay for the rest of the world’s consumption.
Having already failed in Canada and Australia, a carbon tax in New Hampshire would unnecessarily burden our citizens and offer minimal benefit to the environment. State legislators should reject HB 735-FN-A and direct their attention toward advancing the public good.
Exeter GOP Chairman
Rockingham County Young Republicans Chairman