This tax cut was sold to New Mexicans as the next great job-creator. But, like most trickle-down economic strategies, it failed on a massive scale. It's past time to repeal this ineffective give-away that mostly benefits those at the very top.
How much income a family earns determines where they live, what access they have to schools, food, and health care, as well as the amount of stress they experience in making ends meet. Evidence shows that tax credits for working families are critical for not only putting money back into the hands of these consumers, but also for improving their health and well-being. New Mexico's Working Families Tax Credit brings these benefits to families and could do more if it were increased.
Now is the time to enact bold tax reform and improve our tax system so we can begin to generate key, sustainable resources that are not ruled by the boom-or-bust cycle of the oil and gas industries. This reform should begin by restoring fairness to the personal income tax, a stable source of revenue that is underutilized in New Mexico due to tax cuts enacted in 2003.
The past decade of austerity has been hard on New Mexico’s children. Still, we are optimistic about the future because we believe in the strength and resiliency of New Mexico’s families. We know we can build stronger communities and support more resilient families and children so that they can thrive. But we can only build a stronger New Mexico if our policymakers are willing to provide the revenue we need to make these investments.
You can count us among those who are grateful for the billion dollar surplus. This has been a rough few years for kids and families. You can also count us among those who are nervous about how long it will last.
Here in New Mexico, we’ve given away more and more of our tax revenue over time in the form of corporate handouts and allowed multi-state corporations to play shell games with the profits they earn here. The result? Our state has less money to invest in the things that corporations really care about – modern and robust infrastructure, a well-trained workforce, and a market for their goods.
One of the best things about living in New Mexico is the abundance of great natural beauty and opportunities to enjoy the great outdoors. Whether it’s the view from just about any rural highway or one of the many state and national parks and forests, New Mexico boasts some of the most beautiful land in the nation. It is a heritage that all proud New Mexicans want to protect for future generations, a pride woven into our culture. The preservation of our public lands is a sacred trust, but it’s being made more difficult by the inaction of Congress.
A proposed rule change by the Trump administration may lead to thousands of New Mexico children not receiving health insurance and food assistance even though they're eligible -- all because of where their parents were born. Find out more about 'public charge' and what you can do to help stop these changes.
First, we recommend that the new governor work to make our tax system fairer and more stable. Thanks to 15 years of failed trickle-down tax cuts, New Mexico is now much too dependent on revenue from oil and natural gas extraction to fund our state services like education and public safety. But the amount of revenue we collect from oil production is based on prices that are set at the global level, so we’re stuck in a boom-or-bust cycle.
Election issues are at the very heart of the values that matter most to us and our families – educating our children; improving our communities; and protecting our rights, safety and the world around us.