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.

Nov 30 2020

Thriving coronavirus, ailing oil industry leave Carlsbad residents struggling

2020-12-14T14:03:47-07:00Health News Coverage, News Coverage, Tax and Budget News Coverage|

“You can’t govern with that kind of instability,” said James Jimenez, executive director of the advocacy group New Mexico Voices for Children. The economic whipsawing does major harm to education, he said. “When oil prices crash — and this won’t be the last time they do — it means our universities have to charge higher tuition and our K-12 finances suffer.”

Nov 16 2020

It’s time NM diversified away from oil, gas

2021-01-07T11:35:55-07:00Blog Posts, Health Blog, Health News Coverage, News Coverage, Tax and Budget Blog, Tax and Budget News Coverage|

Pre-pandemic New Mexico saw a boom in oil and gas extraction, which was mirrored by an increase in state revenue. And while many state leaders opined that this boom was going to last indefinitely, the reality for the industry was far more grim. “In short,” the report states, “while New Mexico posted record oil and gas revenues, the oil and gas industry itself was reporting steep losses.”

Nov 13 2020

New Mexico lawmakers hear from experts on child well being

2020-11-13T09:59:36-07:00Economic Security News Coverage, Education News Coverage, Health News Coverage, Kids Count News Coverage, News Coverage, Tax and Budget News Coverage|

“Moving forward, we think New Mexico needs to continue investing in the programs that create opportunities for our families,” she said, adding that meeting basic needs such as food assistance, health care, child care and housing will be crucial.

Oct 21 2020

New Mexico’s oil and gas collapse could last years amid calls for economic diversification

2021-01-07T11:38:53-07:00Health News Coverage, News Coverage, Tax and Budget News Coverage|

Economic analysts warned that New Mexico could be unable to rely on its oil and gas industry as the market continues to struggle amid the COVID-19 pandemic. Lease fees, royalty payment and taxes from oil and gas operations accounted for about 30 percent of the state’s budget in recent years, per a recent study from the Institute for Energy Economics (IEEFA) and Financial Analysis.

Oct 21 2020

New report on decline of oil and gas industry should get lawmakers’ attention

2021-01-07T11:39:10-07:00Health News Coverage, News Coverage, Tax and Budget News Coverage|

The oil and gas industry is in decline – and has been for at least a decade – according to a new economic report from the Institute for Energy Economics and Financial Analysis (IEEFA). This isn't the fault of the coronavirus, but the pandemic has helped underscore some of the industry's problems.

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