Policy brief New Mexico is one of just nine states to effectively tax capital gains less than the wages and salaries earned by hard-working New Mexicans. Beginning in 2003, those with capital gains income – who are overwhelmingly the wealthiest in New Mexico – were allowed to deduct 50 percent of their capital gains from their state income taxes. In 2019, legislators reduced the amount to 40 percent.
Tax guide Learn the basics of New Mexico’s tax system—where the state gets its tax revenue to pay for public programs—in this simple, easy-to-use guide. (A Fiscal Policy Project publication)
Policy brief All New Mexico children deserve to have the opportunities in their most formative years that will help them to thrive and succeed in life. Unfortunately too many kids in New Mexico lack access to such opportunities either because their hard-working families cannot afford them or programs are simply not available in their communities. (State-level data on child and family poverty, and child care costs)
Fact sheet Like most states, New Mexico has a shortage of professionals whose occupations require licensure - most notably, doctors, dentist, and teachers. We cannot afford to lose talented professionals, but we are because of federal laws that keep educated and trained immigrants from getting the professional licenses required to practice here. New Mexico needs to follow other states that have removed these barriers.
Fact sheet New Mexico children face major challenges when it comes to having enough food to eat, but there are common-sense policy solutions that we can take to end food insecurity and improve children's health, well-being, and opportunities to reach their full potential. (State-level data on childhood food insecurity)
Policy brief These tax credits reduce poverty, improve outcomes for children, and incentivize employment for workers earning low incomes. A growing body of research shows that tax credits like the EITC and WFTC improve the health and well-being of the families and children who receive them.
Policy brief An inaccurate 2020 Census could negatively impact New Mexico’s democratic representation, economy, and the health, education, and economic security of our kids and families. Young children are uniquely at risk of being under-counted. This policy brief looks at why and what can be done to ensure a full count.
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.