Pearce pledges not to raise taxes as governor | KOB 4
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Pearce pledges not to raise taxes as governor

Pearce pledges not to raise taxes as governor

The Associated Press
July 09, 2018 08:58 AM

SANTA FE, N.M. (AP) - The Republican candidate for governor of New Mexico has signed a pledge to oppose tax increases if elected even as the state struggles to shore up its credit rating and address public pension liabilities.

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Congressman and gubernatorial contender Steve Pearce has signed conservative activist Grover Norquist's famous pledge against any net tax increases if elected governor. Norquist and Americans for Tax Reform confirmed the pledge on Sunday.

The promise may be easily kept at first. New Mexico is in the midst of an oil-sector boom that is boosting state government income at current tax rates.

Fiscal analysts warn the anti-tax pledge eventually could limit Pearce's budget-balancing options and result in abrupt state spending cuts.

New Mexico's credit rating recently was recently downgraded over pension liabilities, Medicaid obligations and more.

(Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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The Associated Press

Copyright 2018 The Associated Press. All rights reserved.

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