Jimenez: Report Presented To New Mexico Legislative Committee Speaks To Need To Diversify Tax System
New Mexico Voices for Children
We can build the kind of New Mexico we all want – one where children receive a world-class education and jobs pay a family-sustaining wage – but it means everyone must do their part.
That means having a stable and equitable tax system – one that asks the most from those who have the most and raises the money we need to educate our children and make the other investments that help drive our economy.
Tuesday’s meeting of the Revenue Stabilization & Tax Policy Committee included a sobering reminder of the urgent need to find more stable revenue, but it also provided cause for hope – by reforming an unstable, inequitable tax structure, New Mexico can better serve the state’s children and future.
A new study is recommending a menu of options for New Mexico lawmakers to consider as part of a larger effort to stabilize and improve the state s tax structure and reduce its reliance on a single industry or revenue source.
For the average New Mexican, it could mean paying more money at the gas pump.
For more affluent residents, it could mean a higher personal income tax rate structure or losing the capital gains personal income tax deduction.
The 141-page report by the PFM Group of Philadelphia, presented Tuesday to the legislative Revenue Stabilization and Tax Policy Committee, makes more than a dozen policy recommendations.
Tax reform would serve N M s children santafenewmexican.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from santafenewmexican.com Daily Mail and Mail on Sunday newspapers.
Report presented to legislative committee speaks to the need to diversify our tax system
James Jimenez
We can build the kind of New Mexico we all want – one where children receive a world-class education and jobs pay a family-sustaining wage – but it means everyone must do their part. That means having a stable and equitable tax system – one that asks the most from those who have the most and raises the money we need to educate our children and make the other investments that help drive our economy.
Tuesday’s meeting of the Revenue Stabilization & Tax Policy Committee included a sobering reminder of the urgent need to find more stable revenue, but it also provided cause for hope – by reforming an unstable, inequitable tax structure, New Mexico can better serve the state’s children and future.
By james jimenez-new mexico voices for children
• Dec 18, 2020
Commentary: We can build the kind of New Mexico we all want – one where children receive a world-class education and jobs pay a family-sustaining wage – but it means everyone must do their part. That means having a stable and equitable tax system – one that asks the most from those who have the most and raises the money we need to educate our children and make the other investments that help drive our economy.
Tuesday’s meeting of the Revenue Stabilization & Tax Policy Committee included a sobering reminder of the urgent need to find more stable revenue, but it also provided cause for hope – by reforming an unstable, inequitable tax structure, New Mexico can better serve the state’s children and future.