Taking a closer look at tax and budget policies affecting New Mexico's quality of life
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To analyze budget, tax and related issues so we may educate lawmakers and advocate for an equitable tax system and responsible spending. |
The Fiscal Policy Project provides timely and credible analysis of budget, tax and related issues in New Mexico. We're often asked why—as a child advocacy agency—we do so much work on tax and budget issues. One reason is that fiscal policies can and do have negative consequences for certain groups of people—namely low–income working families. And that's not good for children.
Elected officials and policy advocates recognize that tax and budget issues
are inexorably linked. This is because most government budgets are made up almost entirely of tax revenue. How that government chooses to spend its budget says a great deal about its priorities. While children remain a relatively high priority in New Mexico's state budget, they have become less of a priority on the federal level.
Two principles of good policy guide our tax and budget work: fairness and revenue adequacy.
- Tax policy should distribute the responsibility for taxes in a fair way: higher–income households, able to pay more, should pay more, while lower–income households should pay a lower percentage of taxes. Business should also pay their fair share.
- Tax policy should also ensure revenue adequacy: taxes must generate enough money to pay for essential services and functions such as quality public education, health care, and public safety.
Publications are an important part of our fiscal policy work, and we release several every year—from one–page fact sheets to 50–plus page reports like The State of Working New Mexico. All Fiscal Policy Project publications are available for download and public use with proper citation.
The Fiscal Policy Project was launched in 2004 and is part of two national initiatives: the State Fiscal Analysis Initiative and the Economic Analysis and Research Network. We are also affiliated with the Working Poor Families Project.
Some of the national organizations working on progressive tax reform include the Center for Budget and Policy Priorities, Citizens for Tax Justice, Economic Policy Institute, Fair Taxes for All, and United for a Fair Economy.
Annie E. Casey Foundation, Center on Budget & Policy Priorities, McCune Charitable Foundation, Public Welfare Foundation, and W.K. Kellogg Foundation
Research Director Gerry Bradley, 505-244-9505 ext. 23
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