New Mexico lawmakers propose tax overhaul study
Posted at: 02/25/2013 9:16 AM
By: The Associated Press
SANTA FE, N.M. (AP) - A group of Democratic lawmakers is proposing a commission to study changing New Mexico's tax system.
Democratic Sen. Tim Keller of Albuquerque proposes a 23-member "blue ribbon tax reform commission" like one that made a study in 2003 during former Democratic Gov. Bill Richardson's administration.
The group would recommend tax changes to the governor and lawmakers by November. Keller says New Mexico's tax policy "looks like Swiss cheese" because of the many exceptions and deductions that are offered.
The proposal is co-sponsored by Democratic Sens. Pete Campos of Las Vegas, Peter Wirth of Santa Fe and John Arthur Smith of Deming. After the last study, a tax change package fizzled during a 2003 special legislative session because the proposals would have produced net increases of more than $130 million.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)