By Daniel J. Chacón, Santa Fe New Mexican
Feb 2, 2023

Some 875,000 New Mexicans would get a cut of the state’s record revenues under a bill that received unanimous approval during its first legislative committee hearing Thursday.

Senate Bill 10, a priority of Gov. Michelle Lujan Grisham, would appropriate $1 billion to provide a one-time tax rebate of $750 for single filers and $1,500 for joint filers.

“Taxpayers’ budgets are stretched thin due to inflation that includes a higher cost of food, heating, gas and other basic necessities,” one of the sponsors, Sen. Benny Shendo Jr., D-Jemez Pueblo, told the Senate Tax, Business and Transportation Committee, which he chairs.

“This relief will help countless New Mexico families make ends meet,” he said.

The bill also appropriates $30 million to the Human Services Department to make payments to New Mexico residents who don’t file a tax return.

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