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.
Call me crazy but I really enjoy Tax Day because I am truly proud to pay taxes. If voting during Election Day is a self-expression of our values, then filing our tax returns on Tax Day is the method through which we celebrate those values. Taxes provide the resources to make shared investments in the things we all care about like a cleaner environment, public health, and quality schools.
The recent decision to include a question on citizenship status in the 2020 decennial Census is certain to increase the number of people who won’t respond to the census. And that’s exactly the political motivation behind the decision to include a question that hasn’t been asked since 1950. This change will be particularly bad for New Mexico.
Bill Jordan spoke at the Second Annual People's Rally. His comments are posted here. "Our years of austerity just so that the rich and well-connected can get tax cuts ― those days are over! It’s time for us to invest in what works. It’s time to invest in New Mexico."
We seem to finally have crawled out of the revenue ravine, and some legislators want to place us back on the edge of that same fiscal precipice? Sounds suicidal.
We all want a prosperous state, but prosperity requires investments. You can’t grow a garden without good soil, sunlight, water, and some hard work. Same with a state—you can’t have prosperity without resources, infrastructure, and a skilled workforce. But instead of following an investment strategy to prosperity, New Mexico has tried to cut its way to prosperity.
In the final part in our series on the just-passed federal tax reform, Raphael Pacheco takes a look at how the legislation may impact New Mexico's budget. (Spoiler alert: it's not good.)
In Part 1 of our blog series, Raphael Pacheco gave us an overview of the federal tax bill. Now in Part 2, he gets down to the nitty-gritty and how the various provisions of the tax bill may impact you.
The long-awaited federal tax reform is now law. So what does it mean for you and your family? Researcher and Analyst Raphael Pacheco takes a look in this first installment of a three-part blog.
When it comes to the census, it pays to be counted. The next big census is less than three years away, and a lot is at stake for New Mexico. Besides being used to determine voting districts, data from the 2020 census will translate to almost $3,000 coming into the state per person, per year for the next decade.