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Sharon Kayne in NM Voices for Children's Communications Director.
Jan 14 2021

It’s Time to Repeal This Unfair Tax Giveaway

2021-01-14T15:01:22-07:00Economic Security Publications, Local Data, Publications, Tax and Budget Publications|

Fact sheet New Mexico gives a big, unnecessary tax break to those with capital gains income. This tax break allows people to deduct 40 percent of their capital gains income from their state taxes, meaning this unearned income is taxed at a lower rate than the hard-earned wages and tips of ordinary New Mexicans. (State-level data on share of capital gains income by income level)

Jan 06 2021

New Mexican Economists Warn: Change Course Now

2021-01-07T11:33:54-07:00Economic Security News Coverage, Health News Coverage, News Coverage, Tax and Budget News Coverage|

“All the tax breaks in the world for business aren’t going to make a difference if people don’t have money to spend,” he says. They get more money to spend by working at better jobs. And they get better jobs through better education, and through businesses attracted to a state with better infrastructure.”

Dec 21 2020

New Mexico tax policy: Here’s what experts are saying needs to change

2021-01-07T11:37:45-07:00Health News Coverage, News Coverage, Tax and Budget News Coverage|

Their top recommendation was to restore income tax rates to the level they were before the cuts of 2003. Those cuts have cost the state $500 million a year, and have gone disproportionately to those with the highest incomes, Wallin said. A family earning $25,000 a year now pays the same rate as one earning $250,000, she said.

Dec 17 2020

Report shows N.M. families struggle with food insecurity, depression

2020-12-18T11:18:36-07:00Health News Coverage, Kids Count News Coverage, News Coverage, Tax and Budget News Coverage|

James Jimenez, executive director of New Mexico Voices for Children, an Albuquerque-based nonprofit that works with the Annie E. Casey Foundation, said the New Mexico Legislature’s recent approval of relief measures for small businesses and residents will help mitigate those issues. However, he said, Congress also needs to enact legislation providing more help to families.

Dec 15 2020

Tax changes weighed to ease revenue volatility

2020-12-17T13:00:38-07:00Economic Security News Coverage, News Coverage, Tax and Budget News Coverage|

He said he would support a bill to expand the state’s Working Families Tax Credit during the coming session, adding, “I think there’s a commitment not to repeat the mistakes of the past.” The nonprofit group New Mexico Voices for Children also called Tuesday for an expansion of the Working Families Tax Credit, which reduces state income tax liability for low-income residents.

Dec 15 2020

Fueling an Equitable Recovery

2020-12-15T11:30:47-07:00Publications, Racial and Ethnic Equity Publications, Tax and Budget Publications|

Policy Brief Before COVID-19 hit, New Mexico was moving steadily forward on a path to more broadly shared prosperity. But our over-reliance on revenue from oil and gas extraction put a dent in our economy even before the pandemic and resulting recession. Legislators must enact policies that stabilize our revenue streams while improving racial equity via our tax code. Their best options for doing so are listed in this policy brief.

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