Tax Fairness & Budget Adequacy Publications
It’s Time to Repeal the Capital Gains Deduction
Policy Brief New Mexico is one of just nine states to effectively tax capital gains less than the wages and salaries earned by hard-working New Mexicans. Beginning in 2003, those with capital gains income – who are overwhelmingly the wealthiest in New Mexico – were allowed to deduct 50 percent of their capital gains from their state income taxes. In 2019, legislators reduced the amount to 40 percent.
Early Childhood Education Helps All Kids Thrive
Policy Brief All New Mexico children deserve to have the opportunities in their most formative years that will help them to thrive and succeed in life. Unfortunately too many kids in New Mexico lack access to such opportunities either because their hard-working families cannot afford them or programs are simply not available in their communities. (State-level data on child and family poverty, and child care costs)
Ensuring New Mexico’s Kids Have Enough to Eat
Fact Sheet New Mexico children face major challenges when it comes to having enough food to eat, but there are common-sense policy solutions that we can take to end food insecurity and improve children's health, well-being, and opportunities to reach their full potential. (State-level data on childhood food insecurity)
Expanding New Mexico’s Best Anti-Poverty Program
Policy Brief These tax credits reduce poverty, improve outcomes for children, and incentivize employment for workers earning low incomes. A growing body of research shows that tax credits like the EITC and WFTC improve the health and well-being of the families and children who receive them.