Created: March 03, 2021 12:13 PM
ALBUQUERQUE, N.M. — New Mexico Gov. Michelle Lujan Grisham signed a pair of economic measures Wednesday morning that will deliver additional stimulus and relief for businesses and individuals in the state.
The new measures will reportedly provide a $600 personal income tax rebate to frontline and low-wage workers, provide a four-month tax holiday for food and beverage businesses, and make up to $500 million available to small businesses seeking loans at a discounted borrowing rate.
The New Mexico Finance Authority will manage the loan fund and state officials said an announcement will be made once the application is available.
“Dollar for dollar, I would put New Mexico’s direct stimulus efforts up against any other state in the country,” Lujan Grisham said in a release. “We have provided hundreds of millions in unemployment support; small business grants, loans, tax holidays; and now direct rebates for the front-line workers who have continued to show up to support themselves and their families, and who deserve all the support that their government can provide. This pandemic has been devastating for everyone, but the pain has been spread unequally. My hope is these economic relief efforts reach those who need them most, and my commitment is New Mexico will continue to step up and support those who need it now and in the future as we build out a successful and sustainable recovery.”
Senate Bill 1
Senate Bill 3
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