New Mexico Senate panel guts House-passed tax plan | KOB 4
Advertisement

New Mexico Senate panel guts House-passed tax plan

New Mexico Senate panel guts House-passed tax plan

The Associated Press
March 14, 2019 01:29 PM

SANTA FE, N.M. (AP) - A key New Mexico Senate committee has removed proposed increases in personal income tax rates for higher-earning residents.

Advertisement

The Senate Corporations and Transportation Committee voted 5-2 on Thursday to move along a House-passed tax package but only after the income tax hikes were dropped and the bill was significantly amended.

Committee Chair Sen. Clemente Sanchez says the state's budget surplus made it hard to rationalize a major tax hike. Under the changes, proposed tax increases on tobacco products and cars shrank.

Sanchez broke with Democratic colleagues who say significant new sources of state income are needed to ensure sustained funding for higher teacher salaries and roadways.

Rep. Jim Trujillo, a Santa Fe Democrat, says lawmakers have already spent the projected surplus and the state needed more revenue.

Credits

The Associated Press

Copyright 2019 The Associated Press. All rights reserved.

Advertisement
Comment on Facebook

Share 4 - News Tips - Photos - Videos
  Share a News Tip, Story Idea, Photo, Video



Advertisement

Relay Media Amp

Advertisement

Advertisement




Police investigate homicide in northeast Albuquerque

Man shot, killed at southeast Albuquerque park

4 Investigates: Las Vegas mayor faces voter fraud investigation

Pay it 4ward: Family thanks construction workers for saving children from apartment fire

Volunteers needed for reading program expansion