Mar 15 2021

A Guide to New Mexico’s Tax System: Executive Summary

2021-08-26T15:10:39-06:00Human 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. (Link to the full Guide to New Mexico's Tax System here)

Mar 11 2021

A Guide to New Mexico’s State Budget

2021-03-16T12:33:01-06:00Human Rights/Civic Participation Publications, Publications, Tax and Budget Publications|

Budget Guide Updated in March 2021, our Budget Guide explains how the state spends and allocates funding. The state budget is a reflection of what we value most and an illustration of the kind of communities we wish to create. The lawmakers we elect to represent us in Santa Fe create the annual budget that the state uses to provide services that benefit us collectively, like education and health care. (Link to the executive summary here)

Mar 11 2021

A Guide to New Mexico’s Tax System

2021-03-16T12:31:56-06:00Human Rights/Civic Participation Publications, Publications, Tax and Budget Publications|

Tax Guide Updated in March 2021, our tax guide explain the state's tax system, which is used to fund the state’s programs and public services that benefit us collectively. Taxes 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. (Link to the executive summary here.)

Feb 08 2021

Juvenile fines and fees are bad for youth, families, and the state

2021-10-25T13:01:08-06:00Economic Security Publications, Publications, Racial and Ethnic Equity Publications, Tax and Budget Publications|

Fact Sheet Court fines and fees for juveniles are harmful to youth and their families, racially discriminatory, and costly to administer. They can quickly amount to hundreds of dollars, resulting in a significant financial burden for New Mexico families, taking from them some of the very resources they need to invest in their children’s future and purchase food, education, housing, and health insurance.

Feb 08 2021

Orphaned Wells and Inadequate Bonds: How the Oil and Gas Industry Could Soon Become a Financial Burden

2021-08-03T12:06:12-06:00Education Publications, Health Publications, Local Data, Publications, Tax and Budget Publications|

Policy Brief Overproduction, a global price war, and the COVID-19 pandemic have led many oil and gas companies in New Mexico and across the West to file for bankruptcy. This means orphaned wells – inactive wells that bankrupt companies have failed to plug – are left behind to pollute the state, which also has to pay the clean-up costs due to inadequate bonding requirements. At the same time, the pandemic has resulted in revenue shortfalls for our state budget. (State-level data on orphaned wells, estimated clean-up costs)

Feb 08 2021

We cut corporate taxes in 2013, but the jobs did not follow

2021-08-30T15:26:07-06:00Local Data, Publications, Racial and Ethnic Equity Publications, Tax and Budget Publications|

Fact Sheet Profit-minded corporations will happily accept tax breaks, but tax rates aren't a big factor when they consider locating in a new state. Most of what they do consider - a well-educated and skilled workforce, modern infrastructure, good schools, etc., - are the very amenities states support with the very tax revenue that corporations try not to pay. This fact sheet makes the argument for increasing the taxes out-of-state corporations pay on the profits earned here. (State-level data on decline of corporate income tax revenue as a share of all income tax revenue)

Feb 01 2021

Tobacco taxes support a healthy future for New Mexico

2021-10-25T13:02:24-06:00Economic Security Publications, Health Publications, Local Data, Publications, Racial and Ethnic Equity Publications, Tax and Budget Publications|

Fact Sheet Smoking kills more people than alcohol, AIDS, car crashes, illegal drugs, murders, and suicides combined. One evidence-based way to help youth and those earning low incomes to stop or reduce smoking is to increase tobacco taxes. It also raises some of the funding needed to cover the public health care costs. (State-level data on smoking, death rates, etc.)

Jan 29 2021

Getting off the revenue roller coaster

2021-08-30T15:27:54-06:00Publications, Tax and Budget Publications|

Fact Sheet By increasing the personal income tax for just the highest-income earners – those who have been relatively unharmed by the pandemic and are in the best position to afford it – we can take an important first step in generating the stable revenue necessary to invest in the programs and services (like education, health care, and modern infrastructure) that promote shared prosperity and well-being for all New Mexicans.

Jan 14 2021

It’s time to repeal this unfair tax giveaway

2021-08-30T15:28:51-06:00Economic 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 and tips of ordinary New Mexicans. (State-level data on share of capital gains income by income level)

Jan 06 2021

New Mexico must step up to help our families who are struggling

2021-08-30T15:29:52-06:00Economic Security Publications, Local Data, Publications, Tax and Budget Publications|

Fact Sheet Families need economic relief now, and this state rebate can provide relief for those who need it most. But it hasn't been updated in more than two decades. Improving this rebate would make our tax system more equitable and ensure that all New Mexicans can survive through and thrive after the pandemic. (State-level data on child well-being and impacts of the tax rebate)

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