By Roz Brown, Public News Service – NM
Oct. 15, 2019
ALBUQUERQUE, N.M. — A new analysis shows 70% of New Mexico families with children will get a break on their state personal income taxes when they file their 2019 tax returns.
Bill Jordan, government relations officer with New Mexico Voices for Children, said currently those with the largest incomes in the state pay the smallest share of their incomes in state and local taxes, while those with the lowest incomes pay the highest share. He said 385,000 children will benefit when the revamped tax code returns $64 million to working families.
“By giving a little more to families at the bottom and asking those who can afford to pay a little more to pay slightly higher taxes, it helps to balance out our tax system,” Jordan said.
Read more at Public News Service – NM