House Republicans are calling on Gov. Michelle Lujan Grisham to eliminate the New Mexico personal income tax. The GOP says this proposal is needed due to many low- and moderate-income families struggling to pay bills as higher gas prices continue.The House Republicans also argue that by repealing the income tax, New Mexico would endure an economic boost by placing over $2 billion per year back into the pockets of New Mexicans, ultimately creating more jobs and economic prosperity. The proposal has not been approved and would require action during a special legislative session.The Governor’s office issued a response to the proposal writing:”Gov. Lujan Grisham appreciates that Republican leaders support her proposal to give New Mexicans a $250 rebate to help offset the cost of soaring gas prices that resulted from President Trump’s war in Iran.The governor’s proposed rebate would require a one-time expenditure. Eliminating New Mexico’s personal income tax would have recurring and significant budget implications that demand comprehensive analysis and rigorous debate better suited to a regular legislative session than a special session. If Republican leaders want to pursue this proposal, Gov. Lujan Grisham suggests they introduce legislation at the outset of the next 60-day session that begins in January.”
House Republicans are calling on Gov. Michelle Lujan Grisham to eliminate the New Mexico personal income tax.
The GOP says this proposal is needed due to many low- and moderate-income families struggling to pay bills as higher gas prices continue.
The House Republicans also argue that by repealing the income tax, New Mexico would endure an economic boost by placing over $2 billion per year back into the pockets of New Mexicans, ultimately creating more jobs and economic prosperity.
The proposal has not been approved and would require action during a special legislative session.
The Governor’s office issued a response to the proposal writing:
“Gov. Lujan Grisham appreciates that Republican leaders support her proposal to give New Mexicans a $250 rebate to help offset the cost of soaring gas prices that resulted from President Trump’s war in Iran.
The governor’s proposed rebate would require a one-time expenditure. Eliminating New Mexico’s personal income tax would have recurring and significant budget implications that demand comprehensive analysis and rigorous debate better suited to a regular legislative session than a special session.
If Republican leaders want to pursue this proposal, Gov. Lujan Grisham suggests they introduce legislation at the outset of the next 60-day session that begins in January.”
