Mar 12 2020

It’s Time to Repeal the Capital Gains Deduction

2020-03-12T14:37:38-06:00Publications, Racial and Ethnic Equity Publications, Tax and Budget Publications|

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.

Feb 07 2020

Early Childhood Education Helps All Kids Thrive

2020-03-12T14:18:59-06:00Economic Security Publications, Education Publications, Local Data, Publications, Tax and Budget Publications|

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)

Jan 29 2020

Ensuring New Mexico’s Kids Have Enough to Eat

2020-02-28T11:49:11-07:00Economic Security Publications, Health Publications, Local Data, Publications, Tax and Budget Publications|

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)

Jan 10 2020

It’s Time to Repeal the Capital Gains Deduction

2020-02-17T16:44:13-07:00Economic Security Publications, Local Data, Publications, Tax and Budget Publications|

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)

Jan 08 2020

A Guide to New Mexico’s Tax System

2020-03-12T16:52:17-06:00Human Rights/Civic Participation Publications, Publications, Tax and Budget Publications|

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.

Jan 08 2020

A Guide to New Mexico’s State Budget

2020-02-17T16:36:22-07:00Human Rights/Civic Participation Publications, Tax and Budget Publications|

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.

Oct 29 2019

The Working Families Tax Credit is a Smart Investment in a Healthier New Mexico

2020-01-10T12:26:09-07:00Economic Security Publications, Education Publications, Health Publications, Local Data, Publications, Racial and Ethnic Equity Publications, Tax and Budget Publications|

Fact Sheet Improving the Working Families Tax Credit would put more money back into the hands of New Mexico’s hard-working families – and the businesses where they will spend it. (State-level data on Working Families Tax Credit recipients.)