Lawmakers approve $500 payments to New Mexicans
SANTA FE, N.M. – Tax rebates will soon be deposited into the bank accounts of New Mexican taxpayers.
After a 12-hour special session Tuesday, lawmakers signed off on two proposals with bipartisan support. The first will send about $700 million in rebates to help with rising gas costs and inflation.
People who file their taxes individually would get $500 total – in two payments. It goes up to a $1,000 total for couples and heads of household filers. The first payment would come in June and the second in August.
KOB 4 spoke with Senate Majority Leader Peter Wirth about the potential impact of this money.
“This is a lot of tanks of gas, a lot of household services and things that New Mexicans need. I feel like the legislature delivered," said Wirth.
There’s also $20 million proposed for those with low income who don’t pay taxes, but that’s on a first come first serve basis.
Next was the "Junior" Bill, the one Gov. Michelle Lujan Grisham vetoed in the last regular session. It would divide $50 million among lawmakers for their own special projects in their areas.
Lujan Grisham didn’t sign it at the end of the regular session, saying there was a lack of transparency of how that money would be spent.
Legislators reworked the language to provide more information. People will be able to go online and see what that money would be used for in their areas.
On Wednesday, a spokesperson for Lujan Grisham said she is expected to sign both bills into law, but they haven’t arrived at her desk yet.
A closer look: Where is the tax rebate money coming from?