Report We're seeing good news and bad news in this annual publication of the latest data on child well-being in New Mexico. While the child poverty rate has improved, for example, New Mexico still ranks near the bottom of the nation on this indicator. Besides data, policy recommendations are included so the state can take action to improve child well-being. (An annual KIDS COUNT report; state-, county-, tribal-, and school district-level data on indicators of child well-being; data by race and ethnicity where available)
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 of ordinary New Mexicans. (State-level data on share of capital gains income by income level)
Executive summary The taxes we all pay are how we fund the state’s programs and public services that benefit us collectively. They are how we build our roads, bridges, waterlines, electrical grids, and how we educate our children, advance public health, and uphold our laws. These programs and services form the foundation of our economy, enhance our quality of life, and pay dividends far into the future.
Executive summary Our state budget is a reflection of what we value most and an illustration of the kind of communities we wish to create. How we spend and allocate funding – basically, how we make our values a reality – is decided by the lawmakers we elect to represent us in Santa Fe. They create the annual budget that the state uses to provide services that benefit us collectively, like education and health care.
Child Advocates Disappointed with LFC Budget Recommendation for Early Childhood Care and Learning Services
Once again, some in the Legislature want to continue this slow-drip process for funding early childhood care and education services. Unfortunately, the Legislative Finance Committee budget recommendation is far below the investments needed in the programs that matter most to New Mexico kids and families and far below the responsible recommendations made by Governor Lujan Grisham.
“Despite knowing how important early childhood programs are for children’s healthy development and success, the LFC proposal continues to short-change the ECCE programs that give all New Mexico children the chance to reach their full potential,” Jimenez said.
The real problem is that child care assistance in New Mexico has not been funded as much more than a work support program for parents. We’ve never made the investments that would be needed in order to address the multi-dimensional needs of kids in our state and see the increases in school readiness that we know the program can provide. It’s like setting aside only enough money to buy a subcompact and then complaining that it’s not as roomy as an SUV.
In all, the tax package that was passed last year was a win for New Mexico families with children. It also protected revenue that we need for our classrooms, road repairs, and health care while still giving working families a much-needed break. There is still work to be done in 2020 to make the tax system fairer, but 2019 was a great start.
New Mexico could lose an estimated $146 million in federal funds if the Department of Homeland Security (DHS) is able to implement rules it promulgated regarding government benefits, including nutrition and health care services. That lack of federal funds would translate to a loss to the state’s gross domestic product (GDP) of as much as $285 million, as well as 1,937 jobs, and $17 million in state tax revenue. That’s according to a policy brief co-released today by the Fiscal Policy Institute of New York and New Mexico Voices for Children.
Policy brief The Trump Administration is trying to change an immigration rule that would harm families and children -- even those family members and kids who are U.S. citizens. This policy brief, co-released with the Fiscal Policy Institute of New York, takes a look at how changes to "public charge" would harm families and New Mexico's economy. (State-level data on fiscal and economic impacts of federal rule change.)