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.
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)
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)
Report Child well-being in New Mexico was improving. But then the COVID-19 pandemic and recession struck. This annual report provides data on numerous child well-being indicators housed under four domains (economic security, education, health, and family and security). While we don't know the full extent of the harm COVID-19 has caused our kids, some pandemic-specific data from the fall of 2020 are included. (Data on the state, county, tribal area, and school district levels on child well-being)
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.)
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.
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)
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)
Policy Brief Before COVID-19 hit, New Mexico was moving steadily forward on a path to more broadly shared prosperity. But our over-reliance on revenue from oil and gas extraction put a dent in our economy even before the pandemic and resulting recession. Legislators must enact policies that stabilize our revenue streams while improving racial equity via our tax code. Their best options for doing so are listed in this policy brief.
Report 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. (State-level data on disparities in income, wealth, home ownership, and tax incidence by race and ethnicity)