Connect with us

New Hampshire

New Hampshire Tops Economic Freedom Index Again

Published

on

New Hampshire Tops Economic Freedom Index Again


The positive relationship between economic freedom and economic growth is one of the most robust empirical relationships in economics. This is good news for New Hampshire, which ranks number one in the latest edition of the Fraser Institute’s Economic Freedom of North America (EFNA) index.

Each year, the Fraser Institute releases its EFNA index, which ranks the 50 U.S. states, 10 Canadian provinces, and 32 Mexican states based on how free their citizens are to engage in economic activity. The three primary areas analyzed for the index are government spending, taxes, and labor market freedom. Data for the report are from 2022, which are the most recent data available due to lags in reporting across the various states and countries. Among the three countries, U.S. states are freer on average, holding every top 40 spot except for one: Alberta, Canada is tied for 12th overall. Every Mexican state is ranked below every U.S. state and Canadian province.

Advertisement

In the United States, New Hampshire is the freest state, followed by South Dakota and Florida. New York is the least free state, ranked just below California and Hawaii (see figure below).

As discussed in the report, the most economically free U.S. states experienced faster population growth and more employment growth from 2013 to 2022. Population growth in the states ranked in the top 25% was 8.3% over this period. For those ranked in the bottom 25%, it was only 0.8%. Similarly, employment growth in the states ranked in the top 25% was 12%, while it was only 4% for those in the bottom 25%. Per capita incomes also grew faster on average in states that increased their economic freedom over this period, as shown in the figure below.

Advertisement

So, what can state policymakers do to increase economic freedom in their state? One option is tax reform. High tax rates impose large financial burdens on workers, businesses, and consumers and distort choices, such as whether to work more or invest rather than spend. Lower tax rates allow people to keep more of their money and reduce distortions, which is why lowering rates increases economic freedom.

Louisiana ranks 23rd on this year’s index, but it is likely to do better next year due to its recent tax reforms. In a recent special session that ended a couple weeks ago, Louisiana’s legislature approved a flat 3% individual income tax rate, eliminating the previous top rate of 4.25% that applied to income over $50,000. It also lowered the corporate income tax rate to a flat 5.5% from a top marginal rate of 7.5%. To offset some of the lost revenue, the sales tax rate was increased from 4% to 5%. Unfortunately, other pro-growth tax reforms that eliminated tax credits for restoring historic buildings and the film industry were defeated.

Reducing regulation is another way states can boost economic freedom. While regulation can provide benefits, too much regulation restricts consumers’ choices and imposes unnecessary burdens on businesses. America’s inability to build housing and energy and transportation infrastructure is a perfect example of what happens when regulation runs amok.

Advertisement

Idaho is a great example of how a state can reduce its regulatory burden. Since 2019, it has eliminated or simplified 95% of its regulations through a comprehensive process that requires agencies to periodically review regulations and eliminate or reform those that are not working. Today, it is one of the least regulated states in the country and its economy is booming: Its real GDP grew by 5.9% on an annualized basis—the highest in the country—according to the most recent data from the Bureau of Economic Analysis.

A thriving economy benefits everyone—workers, consumers, and entrepreneurs—and government has a role to play in protecting individual economic choices so people are free to innovate and create new products and services. State officials who want to improve their state’s economy should focus on increasing economic freedom.



Source link

New Hampshire

Lowell man hit cruiser in NH chase, state police say

Published

on

Lowell man hit cruiser in NH chase, state police say


A Massachusetts man has been arrested after allegedly hitting a New Hampshire State Police cruiser during a chase that ended in Manchester.

Authorities arrested 27-year-old Alejandro Vargas of Lowell early Tuesday morning, they announced Wednesday. Police in Epping notified state police at 1:21 a.m. that a silver 2026 Chevrolet Silverado had fled from them.

Epping officers briefly pursued the truck and had last seen it heading west on Route 101. Police in Candia then reported seeing the same truck going 105 mph.

State police said a trooper tried to stop the truck at Exit 1 on Interstate 293 northbound, but the driver refused to pull over.

Advertisement

The driver got off I-293 on Arnold Street, a dead end, and tried to turn around. He allegedly hit a state police cruiser and two parked vehicles.

State police said the driver and a passenger got out and ran in opposite directions. Manchester police officers, who arrived to the scene with a drone, found and arrested the driver, identified as Vargas.

The passenger was not found. Police did not issue a description.

Vargas had an outstanding warrant from the U.S. Marshals Service, police said without giving details on why he was wanted.

In Tuesday’s incident, Vargas is facing a felony charge of reckless conduct with a deadly weapon and misdemeanor charges of simple assault, disobeying an officer, resisting arrest and conduct after an accident, as well as multiple unspecified violations.

Advertisement

Police said Vargas was expected to be arraigned Wednesday at Manchester District Court. It was not immediately clear if he had an attorney.



Source link

Continue Reading

New Hampshire

Support NHPR & New Hampshire Food Bank this Holiday Season

Published

on

Support NHPR & New Hampshire Food Bank this Holiday Season


This holiday season, NHPR is proud to partner with the New Hampshire Food Bank to help provide meals to families in our community facing food insecurity.

When you make a gift to NHPR in December, you’re supporting more than local, independent journalism. You’re ensuring that essential news and stories are shared across the Granite State — stories that highlight the issues that matter most to New Hampshire residents, from local politics to culture, education, and community life. Your support helps us continue to produce thoughtful, in-depth reporting and to keep our community informed and engaged.

And this year, your generosity can have an even greater impact. By choosing ‘meals to the New Hampshire Food Bank’ in lieu of a tote bag or mug, you’ll help provide nutritious meals to those in need right here in our state. The New Hampshire Food Bank is the state’s largest hunger-relief organization, distributing millions of pounds of food annually to local food pantries, shelters, and meal programs.

When you choose ‘meals to the NHFB’ you’re helping to support families struggling with food insecurity, helping ensure no one in our community goes hungry this holiday season.

Advertisement

Support reliable news. Support your community. And help ensure more families have access to healthy, nourishing food.





Source link

Continue Reading

New Hampshire

Mashpee Boy Scouts carry injured woman down N.H. mountain

Published

on

Mashpee Boy Scouts carry injured woman down N.H. mountain


Local News

Brodie Perry and Jack Borowski carried the woman for two hours down to the base of the mountain.

From left, Brodie Perry and Jack Borowski. Paul Perry

Two members of the Mashpee Boy Scouts of America Troop 36 carried an injured woman down Mount Lafayette in New Hampshire over Indigenous Peoples’ Day weekend.

Brodie Perry and Jack Borowski, both seniors at Mashpee Middle-High School, were leading the troop’s annual hike in the White Mountains when they came across the injured woman, they told Boston.com.

Advertisement

The two scouts asked the woman and her family members, who were trying to carry her down, if they needed any help to which they said no, Borowski said. The woman’s legs were shaking, and her family kept dropping her as daylight quickly ran out, they noticed.

The troop followed behind the family for a while, and ultimately Borowski and Perry offered to carry her down.

It took the two scouts two hours to carry the woman two miles to the base of the mountain, they said.

“If we were to just keep walking and go to the bottom, I don’t know if they would get down, or if they did get down, they would definitely be injured even more than they were,” Perry said.

Both Borowski and Perry value the skills they learned in the Boy Scouts.

Advertisement

“As you begin, you’re someone who listens to the leaders … but as you go, you slowly become the person who’s leading. It’s a really good natural way to go from someone who’s like beginning to someone who’s truly teaching the people around you,” Perry said.

“I’ve developed a lot as a person. You get a lot of experience in leadership and survival skills and helping other people,” Borowski continued. “It’s just really good program to help improve you as a person.”

Borowski is already an Eagle Scout, the highest Boy Scout rank, and Perry is set to be named an Eagle Scout in the next month or so.

After high school graduation, Borowski plans to enlist in the military, and Perry wants to study engineering at a four-year college.





Source link

Continue Reading

Trending