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 Preshow Return to index of stories... |
Next on New Hampshire Outlook tonight. The ins and outs of the Bush tax plan - what impact will it have on YOUR financial future The business of compromise - we'll look at committees of conference and how they work. and one man's crusade to save the original copies of some of early America's most important newspapers. |
| Headlines Return to index of stories... |
Good Evening. I'm Allison McNair. Welcome to New Hampshire Outlook. |
| Revenue Estimates Return to index of stories... |
This is the final week for the Legislature to decide on many key pieces of legislation including a budget and revenue plan. By law, the budget must be balanced with enough revenue to pay for expenditures. This morning, the state's Revenue Commissioner warned that the legislature is overestimating the revenue for the next two years by $89 million. |
| Revenue SOT Return to index of stories... |
Now I'm not predicting that the economy is going to drop down - I'm just saying we need a little caution. As far as the revenues that we have are based on some growth, but taking a look at what's happening on a national and regional basis, that there are indications that the economy is going to be flat or going down - at least flat, and we should not be building our revenue estimates because we've got to make them up. |
| Intro Conf. Comm Return to index of stories... |
Commissioner Arnold's comments came as committees of conference began their final negotiations on the budget, school funding, and a tax plan. Producer Richard Ager gives us a look at one of those committees and the role they all play in the final stage of the legislative process. |
| Conference Comm Return to index of stories... |
Track: After all the long days and late nights in the House and Senate, this is what it comes down to. A few members of each chamber gather to hammer out a final version of whatever legislation they couldn't agree on. In this case, it is the state budget - House Bill 1. Soundup: Tape 1 11:37:35 I would defer to the Senate Track: At first, they strive to agree, dealing with the easiest line items - like those paid for by federal funds. Bite: Tape 1 12:20:15 We start by working on the easy items. And the rancor will come later. Bite: Tape 2 12:38:25 Usually, anything that has no conflict - that everyone could agree with - that's what we would do today because today is the first day that we took our material and sat down and said here's what we're facing. So anything that doesn't have general fund dollars - that everyone agrees is reasonable - those would be the first items. You would take them off the table. And tomorrow would be the day that we go to the more difficult issues, and then on Wednesday again back to more difficult issues. Track: Part of what makes some issues difficult, is that conference committee members have little freedom to make a deal since they represent their chamber, not themselves. Bite: Tape 1 12:18:25 Once you come here, the main decisions have been made. There is a position of each body and those positions must be rectified. So it is an abbreviated system if you like, and sometimes the people in the House are upset if we deviate from what they thought was the House position. So that's why you can't see a major policy change and expect it to pass in the body you came from and represent - because if it is a major policy change - then it's a different bill. Track: Another problem this committee of conference is facing, is that its work is contingent on what other committees are doing. Bite: 12:21:00 We're not working with what's on the table - we're working with a totally different bill. And until the committee on HB351 gets done, we don't know what we've got. But we've got to try to fit it into the same budget, we've got to try to come close to the same number, and then we've got to go back to HB 170 and see if they can get the revenue. Track: Every year, the budget and other bills get resolved close to the deadline. But hopes don't seem to be high for this legislative session to end with everyone happy. Bite: Tape 2 12:42:20 I think it's going to be very difficult for compromise because there seems to be a digging in of heels and that's very unfortunate. There had been other years where you could see other people coming togther to try to find solutions. Unfortunately, the door has been barred for many of us in this process and as long as that happens, it's very hard to bring consensus. Bite: Tape 2 12:23:23 HAS THIS BEEN A MORE DIFFICULT THAN USUAL LEGISLATIVE SESSION - HERE AT THE END OF IT? Ask me in a week. Track: For NH Outlook, I'm Richard Ager. |
| tag conf comm Return to index of stories... |
The committee of conference on the state budget meets again tomorrow morning at 10 o'clock. |
| Rate Cut Return to index of stories... |
Some New Hampshire residents will get a break on their electric bills this summer - if the state Public Utilities Commission grants a request by the Unitil company to lower the rates of two of its subsidiaries. Customers of Concord Electric, as well as customers of Exeter and Hampton Electic would see a 15 percent reduction in their monthly rates. The cut is a result of the decreasing cost of burning fuel to generate power. The average Exeter and Hampton customer would pay about 51-dollars a month, while the typical Concord customer would pay 53-dollars. If approved, the rate cut would go into effect August first. |
| Intro Bush Tax Plan Return to index of stories... |
A lot has been made of the Bush Tax Plan - but what changes will directly affect you? Just a few minutes ago we spoke to Brad French and Fred Forman. |
| Bush Plan Discuss Return to index of stories... |
CG:BULL5SUB\Bush Tax Plan\Income Tax Changes\10% instead of 15% \1st $12K married\1st $10K single parents\1st $6K single filers\Retroactive to Jan. 01\Refund checks up to $600 in the mail CG:BULL5SUB\Bush Tax Plan\Tax Bracket Changes By 2006\39.6% to 35%\36% to 28%\31% to 28%\28% to 25%\Consider speeding up Charitable Giving CG:BULL4SUB\Bush Tax Plan\Contribution Limits\IRA - $3K in 2002 $5K in 2008 \401, 403, 457 - $ 15k in 2006\"Simple" - $10K in 2005\50 + "catch-up" contributions CG:BULL3SUB\Bush Tax Plan\Education IRAs\$2K in 2002\All K - 12 grade education expenses CG:BULL3SUB\Bush Tax Plan\College Tuition Deductions\$3K - 2002 & 2003\$4K - 2004 & 2005\ENDS 2006 |
| BP Bump Return to index of stories... |
Listen to "Money Matters" Daily From 9-11am Stations from Maine to Rhode Island WTSN 1270AM WSMN 1590AM |
| Business Outlook Return to index of stories... |
A mixed day on Wall Street. Investors shied away from the Nasdaq - still suffering from a flood of earnings warnings. Blue chips gained ground however. |
| Wall Street Stocks Return to index of stories... |
The Dow Jones Industrial Average closed up over 21 points. The Nasdaq ended the day down almost 40. And the S-and-P-500 closed down almost six points. |
| NH Stocks Return to index of stories... |
Here's a look of stocks of interest to New Hampshire investors. Anheuser-Busch was down 19 cents today. Shares of Autodesk lost a dollar-and-eleven-cents at the end of trading. Pennichuck Corportation stock gained two dollars a share today. Raytheon was up 99 cents a share. And Verizon Communications stock lost 26 cents a share today. |
| Bike Week profits Return to index of stories... |
Thousands of motorcyclists have gone home, but they left millions of dollars behind in New Hampshire. While most of the action took place in the Lakes Region, bikers who spread out around the state filling hotels 50 miles to the North and to the South. Organizers estimate the economic impact of Bike Week on the state's economy is more than 100 million dollars. |
| Intro Mt. Washington Return to index of stories... |
A beutiful day to start the work week. To find out how long this great weather will hang around we checked in with Tod Hagan at the Mount Washington Observatory just a few minutes ago. |
| Mt. Washington Return to index of stories... |
CG:WEATHER\Mount Washington Observatory\Current Conditions\Temperature: 49 Degrees\Wind: Northwest at 31 mph\Mostly cloud\Visibility: 35 miles CG:WEATHER\Tonight\North\Mostly clear\Chance of a shower\Lows: 50 to 55\Winds: light\ CG:WEATHER\Tonight\South\Becoming partly cloudy\Lows: mid 50's\ Winds: Light\ CG:WEATHER\Tomorrow\North\Mostly cloudy\Partly sunny\Highs: 85 to 90\Winds: sw at 10 to 20 mph |
| Intro Newspaper Return to index of stories... |
Finally tonight, we have the story of one man's crusade to save the original copies of some of early America's most important newspapers. As Chip Neal shows us, some of these newspapers are the only remaining copies in the world. |
| Tag repository Return to index of stories... |
If you'd like more information, contact the American Newspaper Repository at 742-2280. CG:BANNER\American Newspaper Repository\742-2280 web site is home.gwi.net/~dnb/newsrep.html Am. Newspaper Repository 603 742-2280 |
| website Return to index of stories... |
For information on tonight's program, and links to our guests and interviews, visit our web site at nhptv.org. You can see and hear streaming video of our broadcasts and participate in our daily poll. If you've got a story idea or comment on our program you can call us at 800-639-2721. |
| Tomorrow Return to index of stories... |
Tomorrow on New Hampshire Outlook - No one wants to think about it. But as the adage goes, there's nothing more sure in life than death and taxes. We can't stop the inevitable, but we can plan well ahead to provide for our families AND our favorite charities. An expert walks us through the steps. USE CG TEMPLATE |
| Goodnight Return to index of stories... |
That's it for this edition of New Hampshire Outlook. For all of us here at New Hampshire Public Television, thanks for joining us. Stay tuned for Mark Russell. We'll be back tomorrow at 7:30. Good night. |
| founders Return to index of stories... |
Thanks to our founding sponsors who have provided major funding for the production of New Hampshire Outlook: New Hampshire Charitable Foundadtion Public Service of New Hampshire Alice J. Reen Charitable Trust Putnam Foundation Stratford Foundation |
| key:history Return to index of stories... |
DATE:6/18/01 TOPIC:Finally tonight, we have the story of one man's crusade to save the original copies of some of early America's most important newspapers. As Chip Neal shows us, some of these newspapers are the only remaining copies in the world. SEGMENT LENGTH: 6:42 NAME OF PARTICIPANTS: |
| key: government: state Return to index of stories... |
DATE:6/18/01 TOPIC: Commissioner Arnold's comments came as committees of conference began their final negotiations on the budget, school funding, and a tax plan. Producer Richard Ager gives us a look at one of those committees and the role they all play in the final stage of the legislative process. SEGMENT LENGTH:3:03 NAME OF PARTICIPANTS: |
| key: government: national Return to index of stories... |
DATE:6/18/01 TOPIC: A lot has been made of the Bush Tax Plan - but what changes will directly affect you? Just a few minutes ago we spoke to Brad French and Fred Forman. SEGMENT LENGTH:10:01 NAME OF PARTICIPANTS: |
| Thank guests Return to index of stories... |
I'd like to thank my guests Brad French and Fred Forman for being here. |
| TAX BACKUP Return to index of stories... |
BUSH TAX PLAN INCOME TAX CHANGES 10% Instead of 15% 1st $12,000 for married couples 1st $10,000 single parents 1st $6,000 single filers Refund checks up to $600 BUSH TAX PLAN BY 2006 Tax Brackets 39.6% to 35% 36% to 28% 31% to 28% 28% to 25% BUSH TAX PLAN IN 2006 RETIREMENT SAVINGS CHANGES Workers with 401 plans will be able to invest in Roth 401 plans Workers able to contribute 15,000 annually 20,000 age 50 and older to combined plans BUSH TAX PLAN RETIREMENT SAVINGS CHANGES Contributions to Roth 401 after tax dollars, but all investment gain tax-free and money doesn't have to be withdrawn before death BUSH TAX PLAN - RETIREMENT CHANGES In 2002, IRA contribution limits increase to 3,000 Up to $5,000 in 2008 BUSH TAX PLAN RETIREMENT SAVINGS CHANGES In 2002, 401, 403 and 457 plan contribution limits increase from current range $8500 $10,500 to $15,000 in 2006. BUSH TAX PLAN RETIRMENT SAVINGS CHANGES The $6,000 limit on Simple Retirement plans go up to $10,000 in 2005. BUSH TAX PLAN EDUCATION EXPENSES In 2002, Education IRA increases to $2,000. Interest, dividends, and capital gains can be withdrawn tax free to pay school expenses. Education IRA's now can be used K - 12th grade. BUSH TAX PLAN EDUCATION EXPENSES 529 Plans - Money withdrawn for school, no longer taxed on gains Interest on student loans tax deductible for life of loan BUSH TAX PLAN EDUCATION EXPENSES Deduction for College Tuition $3,000 - 2002 & 2003 $4,000 - 2004 & 2005 BUSH TAX PLAN ESTATE TAX CHANGES 675,000 Estate Tax Exemption 1 Million in 2002 1.5 Million in 2004 2 Million in 2006 3.5 Million in 2009 Returns to 675,000 in 2001 |
| Tonight 7:30 Return to index of stories... |
Tonight on New Hampshire Outlook. We can't stop the inevitable, but we can plan well ahead to provide for our families AND our favorite charities. Some experts walk us through the steps. Join us tonight at 7:30 only on New Hampshire Outlook. |
| Tonight 11:30 Return to index of stories... |
Tonight on New Hampshire Outlook. We can't stop the inevitable, but we can plan well ahead to provide for our families AND our favorite charities. Some experts walk us through the steps. Join us tonight at 11:30 only on New Hampshire Outlook. |