Economic Security & Prosperity Blog
NM has the highest long-term unemployment and extreme hunger, so why does the state want to make parents work for food?
There’s an old saying that when you’re stuck in a hole the first thing you should do is stop digging. New Mexicans are used to hearing that their home state is in the hole. We are at the bottom of the nation in everything from child well-being to poverty to hunger. Despite this, there are some up in Santa Fe who want to continue to dig.
How closing economic disparities for racial/ethnic minorities will benefit all
As our nation’s racial demographics change we must take steps to close the opportunity gap if we are to keep our economy strong and keep the American dream viable.
The real “mommy wars” are playing out in the workplace
The U.S. is one of just three countries on the globe with no guarantee of paid maternity leave. We also have no federal policy on paid family or sick leave. That puts mothers—particularly those earning low incomes—at a disadvantage in the workplace.
Measuring the benefits of anti-poverty programs
While the official poverty level can tell us how many low-income families and children are eligible for anti-poverty programs, it cannot tell us how many are lifted out of poverty by those same programs.
Preying on the poor: Why the state needs to curb payday lending abuse
Legislative attempts to limit interest rates on payday loans are likely dead for another year. That gives predatory lenders 365 more days to charge an average of 350 percent on small-dollar loans.
How New Mexico’s unemployment insurance system fails everyone
Unemployment benefits don’t just help keep laid-off workers afloat. They also help keep the state’s economy from tanking. But the state’s system has failed on both counts.
The minimum wage has to be raised the right way
Increasing the minimum wage, which would positively affect many workers, continues to be discussed during the current legislative session. But not all bills to raise the minimum wage are equal. Some are just plain wrong.
Increasing one proven and effective way to give New Mexico workers a hand up
New Mexico’s Working Families Tax Credit is based directly on the federal Earned Income Tax Credit (EITC), which was enacted in 1975. New Mexico’s credit was enacted in 2007 at 8 percent of the value of the federal EITC and raised the following year to its current value of 10 percent of the EITC. Both credits are refundable income tax credits available to low- and lower-middle-income workers. Each year the EITC injects about $500 million into New Mexico’s economy, and the Working Families Tax Credit provides an additional $50 million in benefits to New Mexico families.
Recent deep spending cuts are the fly in our budgetary ointment
Today we’re talking about the state budget, and you know, there’s been a lot of people in this Roundhouse taking credit for—quote—“balancing the state budget during the recession and fixing the worst budget deficit in our history.” And while everybody argues over who balanced the budget, they all missed the more important point about how they balanced the budget. So I’m going to tell you.
The tax credits that make life a little easier for working families
Today is National EITC Awareness Day, a nationwide effort to increase public awareness about the benefits of the federal EITC, which is available to low- and middle-income working families. It helps people who work hard meet basic needs for food and transportation and provide for their children. New Mexico’s Working Families Tax Credit (WFTC) is based directly on the EITC and provides additional benefits for New Mexico’s working families and communities. It can be worth up to $614 for those who qualify for the EITC.