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New income tax bracket proposed for NM's top 1 percent

KOB.com Web Staff
March 11, 2017 11:00 PM

A bill that would create a new income tax bracket for the state's wealthiest 1 percent was discussed in the House Saturday.

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The bill's (HB201) new tax bracket would mean people who make more than a certain amount of money would have to pay a nearly 6 percent income tax.

That would include married taxpayers filing separately making more than $230,000, or married people filing taxes together making more than $460,000.

"This is a thing that my friends, many of whom are in the one percent, want to pay this," said bill sponsor Democratic Rep. Daymon Ely."They do. they want to pay their fair share. Because what they want out of it are better schools, better courts, better services for children. Better roads, better bridges. That's what they want."

Gov. Martinez has said she will not sign any bill that raises taxes.

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KOB.com Web Staff

Copyright 2017 KOB-TV LLC, a Hubbard Broadcasting Company. All rights reserved

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