by Roz Brown, Public News Service – NM
Oct. 17, 2018
ALBUQUERQUE, N.M. – Regressive tax systems hurt children and families, according to a new report from the Institute on Taxation and Economic Policy – and by that standard, it says New Mexico has the 19th-worst tax system in the United States.
The study showed that as a share of their income, the lowest-income New Mexicans are paying state and local tax rates almost double those of the state’s wealthiest residents.
James Jimenez, executive director of New Mexico Voices for Children, said state policymakers could address the inequity by embracing a more progressive tax system.
“It’s really a much fairer way of allocating tax responsibility to support the kinds of things that we need – good, strong schools and higher education, great infrastructure,” he said. “Those are really the fundamental things that we need to figure out how to pay for in a fair way.”
Read more at Public News Service – NM