A contentious debate over $5 million in funding sourced from the Real Estate Transfer Tax for affordable housing is stalling in New Hampshire. Senate Republicans oppose the measure outlined in S.B. 81, introduced in January but lacking action since March. Democrats advocate for the funding, citing strong public support and concerning housing market conditions, such as median home prices exceeding $600,000 and a need for 60,000 additional units. Meanwhile, projected state revenue declines prompt fiscal conservatives to caution against new expenditures, highlighting competing priorities like Medicaid funding and mental health programs.
Senate Republicans have placed the debate on $5 million funding for affordable housing on hold, despite public support and pressing needs in New Hampshire's housing market.
Democrats argue that given the overwhelming public support for affordable housing and alarming market conditions, the state should proceed with S.B. 81 to allocate funds.
With home prices exceeding $600,000 and a projected need for 60,000 additional units, New Hampshire's housing market demands immediate attention.
Fiscal conservatives caution against increasing funding for affordable housing amidst declining state revenue projections, prompting lawmakers to prioritize Medicaid and mental health funding.
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