How the Expanded Working Families Tax Credit Helps Your Community
This Labor Day, we're celebrating the expansion of the Working Families Tax Credit during the 2019 legislative session. The 70% increase in the credit will benefit more than 200,000 New Mexico families.
Advancing Equity in New Mexico: Tax Policy
The first installment in our series on policies passed during the 2019 legislative session that will improve equity in New Mexico, this blog looks at how tax policies can help close income and wealth disparities that fall along racial lines. Makes sense -- since tax policies helped create those disparities in the first place.
Not the New Mexico tax return you were hoping for? Wait till 2020
When you filed your tax return this year, you may have noticed some changes. Maybe you got a smaller refund than usual or you owed more in state taxes. So what happened to the big fairness measures that the state Legislature just passed?
Capital Gains GIF-splained: What’s Wrong with This Deduction and Why it Needs to Go
This tax cut was sold to New Mexicans as the next great job-creator. But, like most trickle-down economic strategies, it failed on a massive scale. It's past time to repeal this ineffective give-away that mostly benefits those at the very top.
Time to restore fairness to the personal income tax and break the boom-or-bust cycle
Now is the time to enact bold tax reform and improve our tax system so we can begin to generate key, sustainable resources that are not ruled by the boom-or-bust cycle of the oil and gas industries. This reform should begin by restoring fairness to the personal income tax, a stable source of revenue that is underutilized in New Mexico due to tax cuts enacted in 2003.
Changing the course on child well-being
The past decade of austerity has been hard on New Mexico’s children. Still, we are optimistic about the future because we believe in the strength and resiliency of New Mexico’s families. We know we can build stronger communities and support more resilient families and children so that they can thrive. But we can only build a stronger New Mexico if our policymakers are willing to provide the revenue we need to make these investments.