Fact Sheet (fifth in the series) The safety measures put in place across the nation to slow the spread of COVID-19 have led to massive worker layoffs. This has, in turn, overwhelmed the ability of most states to keep up with unemployment insurance claims. This fact sheet looks at how the stimulus passed by Congress will help New Mexico's laid-off workers. (State-level data on unemployment)
Fact Sheet (fourth in the series) Tribes, states, and local governments are facing enormous costs in their attempt to contain, treat, and respond to this unprecedented public health emergency. Simultaneously, tax revenues are falling with the plummeting economic activity. Federal legislation was passed to help address the immense revenue needs for New Mexico and all the other states, but more will be needed in the future.
Fact Sheet (third in the series) Small businesses are the backbone of New Mexico's economy. While some of the federal aid packages passed by Congress aim to help small businesses survive the COVID-19 pandemic, few New Mexico businesses are likely to benefit. (State-level data on small business demographics)
Fact Sheet (second in the series) With food insecurity already a big problem before the COVID-19 pandemic, the economic slump has only made it worse. Some of the federal aid packages passed by Congress allow states to expand their SNAP programs, which will help. This fact sheet looks at what this means for New Mexico. (State-level data on food insecurity)
Fact Sheet (first in the series) Stimulus checks – also called rebates – were in one of the aid packages passed by Congress to help Americans during the COVID-19 pandemic and the resulting economic downturn. This fact sheet looks at who gets them, how much they will receive, who is left out, and what is left to be done. (State-level data on factors of economic well-being)
Fact Sheet (series introduction) Congress has passed several aid packages to help Americans during the COVID-19 pandemic and the resulting economic downturn. This series looks at what's in the aid packages, how they will impact you, your family, community and state, who was left out of the stimulus, and what should come next.
Report Despite the fact that immigrants work, pay taxes, and are a vital part of our economy, many were left out of the relief packages Congress passed to help blunt the coming recession and assist displaced workers and small business owners. Not only is that harmful to many New Mexico children and families, it also will impede our ability to rebuild our economy. (State- and some county-level data on selected demographics, and state-level data on immigrant tax contributions)
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.
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.
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.