Federal stimulus bill will bring a windfall to New Hampshire
State to get over $1.8 billion in measure president is expected to sign on Friday
Altogether, the act will distribute $195.3 billion among states, based on their share of nationwide unemployment, with the proviso that each state receives, at a minimum, the amount it was allocated by the Coronavirus Relief Fund through the CARES Act.
Another $130.2 billion will be distributed to local governments based on population.
In New Hampshire, state revenue fell by $54.6 million between fiscal years 2019 and 2020. The $1.25 billion allotted to state government represents 2,289% of this foregone revenue – the fifth highest multiple among the 50 states, trailing only Pennsylvania (10,621%), Arkansas (8,210%), New Jersey (4,365%) and Iowa (3,111%).
At the same time, the act provides another $558.2 million for distribution to local governments in New Hampshire.
The funding for state and local governments amounts to $1,033 for every man, woman and child in the state, above the nationwide average per capita distribution of $1,066.