Economic Security and Prosperity2024-03-07T16:09:05-07:00

Economic Security & Prosperity

The economy should work for everyone, not just a select few. But for New Mexicans who lack job skills and education, and work in low-wage jobs with little hope for advancement, economic security is just a dream. Long-term economic prosperity involves promoting economic and workforce development opportunities for all New Mexicans, as well as supporting access to adequate wage and work supports for those in crisis and those who are unable to work.

Featured Content

Guaranteed Income: Increasing Employment and Helping Families Thrive

Research shows that when people are given unrestricted cash payments — sometimes called guaranteed income (GI) — they pursue better jobs, complete educational or vocational training, and create stability for their families. This report (available in English and Spanish) looks at how a GI pilot program for immigrant families in New Mexico improved outcomes for participating families. 

New Mexico is Putting Families First in Tax Policy

Our state’s policy makers made a number of improvements to the tax code since 2019 that will help low- and middle-income New Mexicans, improve equity, and increase economic opportunity for our working families.

Tax Policy: A Powerful Tool to Advance Racial Equity in New Mexico

Systemic racism isn’t accidental – it’s the result of public policies that benefit one group while disadvantaging others. Our state and national tax systems have been built to benefit those at the top (who are mostly white) while disadvantaging people of color. This report looks at concrete ways New Mexico can make our tax system more equitable.

Recent Publications

New Mexico has the Most-Improved Tax Fairness of Any State

February 6th, 2024|

Fact Sheet New Mexico now has the ninth most progressive tax system in the nation as ranked by ITEP’s recently updated Who Pays? report on tax incidence. That same report showed New Mexico as making the most progress toward tax fairness in the nation! This fact sheet explains why. (State-level data on effective tax rates by income group.)

Income-Support Programs Show Success in Reducing Poverty in New Mexico

January 29th, 2024|

Fact Sheet In recent years, increases and expansions of income supports have made a big difference for families who are working their way out of poverty. When the value of these programs are taken into account it is clear that families earning low incomes are receiving the supports needed to help lift them out of poverty in New Mexico. (State-level data on poverty and labor force participation rates.)

All Publications

Recent Blog Posts

On Tax Day, New Mexicans can be thankful

April 13th, 2024|

Santa Fe New Mexican--This Tax Day, we all have much to be thankful for as we consider the bounty of public goods and services that are made possible with our tax dollars. These include a school system, the roads, first responders, our parks, libraries, museums and so much more. This year, we have even more to be thankful for. That’s because in the last few years our state has made the most improvement in the nation in making our tax system more fair, equitable, and racially just.

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Recent News Coverage

On Tax Day, New Mexicans can be thankful

April 13th, 2024|

Santa Fe New Mexican--This Tax Day, we all have much to be thankful for as we consider the bounty of public goods and services that are made possible with our tax dollars. These include a school system, the roads, first responders, our parks, libraries, museums and so much more. This year, we have even more to be thankful for. That’s because in the last few years our state has made the most improvement in the nation in making our tax system more fair, equitable, and racially just.

New child tax credit available to New Mexico families

April 4th, 2024|

KOB TV--“A really great provision of the child tax credit is that it is fully refundable. What that means is that, if you don’t owe any taxes, you will be able to get a check or a deposit in your bank account from the state for that refund amount,” said Paige Knight, the deputy policy director at New Mexico Voices for Children.

All news coverage

Programs, Coalitions & Networks

Economic Relief Working Group A coalition of several grassroots and advocacy organizations – many of them focused on immigrant rights – ERWG was formed in 2020 initially to secure pandemic relief for those New Mexicans who did not qualify for federal relief due to their immigration status. ERWG worked on getting an accurate 2020 Census count for the state, and has also worked on wages, voting rights, tax credits and child care assistance, and currently runs a guarantied basic income (GBI) pilot project for families with mixed immigration status.

New Mexico Fairness Project A coalition of more than 30 organizations, NMFP works to ensure that New Mexico collects tax revenue in a way that is equitable and sustainable, and that is adequate to fund the programs, services, and infrastructure that New Mexico’s children, families, communities, and businesses rely upon. Run by NM Voices, NMFP also fights for fair wages and working conditions, and other issues central to family economic security.

Economic Analysis and Research Network EARN is a program of the Economic Policy Institute for research, policy, and advocacy organizations across the nation fighting for an economy that works for everyone. EARN advances an inclusive, worker-centered economy through state and local policy change, rigorous research, and collaboration between researchers, advocates, and community groups across the country.

State Revenue Alliance A network of state-based community, labor, and policy advocates from across the country, SRA works with on-the-ground advocates, giving them the strategic resources they need to build intersectional, people-powered campaigns that transform revenue policy – ensuring our states fully fund communities and that corporations and the ultra rich pay what they owe.

New Mexico Civic Engagement Table A project of the Center for Civic Policy, NMCET unifies more than 40 diverse organizations from different sectors around a common agenda to strengthen our democracy. Among its issues are economic justice, early childhood education, climate justice, immigration reform, and economic development.

Resources

A Basic Family Budget Calculator is an important tool in determining if a family lives in poverty, because the system currently in place to do that is completely outdated.

Federal poverty guidelines, which dictate whether a family is eligible to receive assistance such as Medicaid and Food Stamps, are tied to a formula that was created in the 1960s. It was based on what the typical family spent on groceries because that was a family’s biggest expense at the time. Today, necessities like housing, childcare and health care take up a far greater share of most family incomes than groceries. Not only do the guidelines not take these changes into account, they do not take into account regional differences in the cost of living.

Because the federal guidelines are so inaccurate, families are generally considered low-income when they earn up to twice (or 200 percent) the poverty level. This makes up for some shortfalls in the guidelines, but they are still nowhere near as accurate as a Basic Family Budget.

  • Click here to find out the minimum amount families need to earn in order to live at a basic, no-frills level in New Mexico’s cities and counties
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