Tax Fairness & Budget Adequacy Publications
How the American Rescue Plan will help New Mexico
Fact Sheet The American Rescue Plan Act will help New Mexico in a number of ways - income supports, housing and food assistance for families, and education and health care assistance for the state, cities, counties, and Tribes. This fact sheet looks specifically at how children of color - who have been disproportionately harmed by the pandemic - will be helped. (State-level estimates, some by race and ethnicity, on how many people will be impacted)
Juvenile fines and fees are bad for youth, families, and the state
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.
Orphaned Wells and Inadequate Bonds: How the Oil and Gas Industry Could Soon Become a Financial Burden
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)
Tobacco taxes support a healthy future for New Mexico
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.)
Getting off the revenue roller coaster
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.
New Mexico must step up to help our families who are struggling
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)
Fueling an Equitable Recovery
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.
Tax Policy: A Powerful Tool to Advance Racial Equity in New Mexico
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)
Nuevo México debe tomar la iniciativa para ayudar a nuestras familias necesitadas
Fact Sheet El proporcionar ayuda a los más necesitados de nuestras comunidades es una parte esencial para que nuestro sistema tributario sea más equitativo y asegurar que todas/os los nuevomexicanos puedan sobrevivir durante la pandemia y prosperar después.
The Working Families Tax Credit will help New Mexico bounce back
Fact Sheet New Mexico's Working Families Tax Credit has long helped families who work hard but are struggling to make ends meet. Given the crises of the pandemic and its resulting recession, it's time to increase and improve this proven anti-poverty solution. (State-level data on the benefits of this tax credit)