Tax Fairness & Budget Adequacy Publications
New Mexico has the Most-Improved Tax Fairness of Any State
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
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.)
It’s time to limit this unfair tax giveaway
Fact Sheet New Mexico gives a big, unnecessary tax break to those with capital gains income. This tax break allows people to deduct 40% 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)
2023 New Mexico KIDS COUNT Data Book
NM KIDS COUNT Data Book Child well-being is slowly improving in New Mexico, thanks to investments by our lawmakers. This annual report provides data on numerous child well-being indicators related to economic security, education, health, and family and community, and includes policy solutions. New this year are indicators related to environmental health. (State-, county-, tribal- and school district-level data on child well-being.)
Advocate’s Guide to the New Mexico State Budget
Advocacy Guide Designed as a companion to A Guide to the New Mexico State Budget, this guide is written for people who are interested in advocating for General Fund monies for operating and programmatic purposes.
A Guide to New Mexico’s Tax System: Executive Summary
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)
A Guide to New Mexico’s Tax System
Tax Guide Explains 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.)
New Mexico is Putting Families First in Tax Policy
Fact Sheet Our state’s policymakers have made several significant improvements to the tax code since 2019 that are helping New Mexicans who earn low and moderate incomes, improving equity, and increasing economic opportunity for our working families.
A Guide to New Mexico’s State Budget: Executive Summary
Executive Summary Our state budget is a reflection of what we value most and an illustration of the kind of communities we wish to create. How we spend and allocate funding – basically, how we make our values a reality – is decided by the lawmakers we elect to represent us in Santa Fe. They create the annual budget that the state uses to provide services that benefit us collectively, like education and health care. (Link to the full Guide to New Mexico's State Budget here)
A Guide to New Mexico’s State Budget
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)