Directing the commissioner of the department of business and economic affairs to assemble a report on the effects of tariffs on Canada and New Hampshire residents.
Summary
SB 304 directs the commissioner of the Department of Business and Economic Affairs to prepare an annual report on the effects of tariffs on Canada and New Hampshire residents. The bill frames the report as the “Tariffs Are a Tax Act” and includes legislative findings asserting that proposed Canadian tariffs would raise costs for New Hampshire consumers and businesses, affect trade-dependent jobs, and increase prices for goods such as fuel, seafood, produce, building materials, and housing-related inputs.
The report must be delivered by October 1, 2025, to the governor, executive council, fiscal committee, legislative leaders, and the state library, and posted online. It must quantify direct and indirect cost increases by good or service, estimate jobs impacted or lost, and identify lost revenue to New Hampshire businesses. The bill takes effect immediately upon passage and does not itself impose tariffs or taxes; it creates a reporting requirement and formalizes state-level documentation of tariff impacts.
Impact
SB 304 would amend RSA 12-O by adding a new section requiring the Department of Business and Economic Affairs to produce an annual tariff-impact report. Its practical effect is to place a new administrative duty on the department and create a state record of the economic consequences of tariffs on cross-border trade with Canada, including consumer prices, employment, and business revenue. The bill does not change tax rates, trade policy, or tariff authority, but it would influence state policy discussions by supplying official findings and data on affected industries and residents.
Sentiment
The bill appears to have been introduced in a critical posture toward tariffs, especially those affecting Canada, and its findings suggest concern about higher costs for New Hampshire households and businesses. The available vote history shows the bill was laid on the table by a 16-8 vote, which indicates there was enough support to pause or set aside the measure rather than advance it at that time. No committee transcript is available, so the broader discussion record is limited, but the vote suggests the bill was politically notable and not unanimously embraced.
Contention
The main point of contention is the bill’s underlying premise that tariffs are economically harmful and function like a tax on New Hampshire residents. Supporters appear to favor documenting expected price increases, job losses, and business revenue impacts, while opponents may have viewed the measure as premature, politically charged, or unnecessary given that it is based on anticipated federal tariff actions rather than a state-imposed policy. The inclusion of findings naming President Trump and specific tariff rates likely heightened the political sensitivity of the bill.