NMPolitics.net (https://nmpolitics.net/index/tag/economy/page/44/)
One part of our state budget negotiations that has drawn almost no attention from the media or from advocates is that the bulk of revenues being discussed are scheduled to be phased out. They’re being called “temporary.” Keeping that “T” word in revenue legislation would be an enormous mistake, both fiscally and politically. Continue Reading
There is a limit to how much taxes can be raised to cover state government spending. Now is the time to balance tax increases with spending cuts and enact a sustainable spending plan. Continue Reading
For the upcoming special session, perhaps we should require legislators to bunk up in pairs to reduce the financial burden on taxpayers for their lack of action. Continue Reading
Gov. Bill Richardson plans to call lawmakers into special session at noon on Wednesday to try again to fix the state’s massive budget deficit. Continue Reading
UPDATED: A deal to balance the state’s budget fell apart in the early hours of the morning, and now some senators say that chamber has the signatures to call the Legislature into extraordinary session so lawmakers, not the governor, control the agenda. The question is whether the House will agree. Continue Reading
While lawmakers continue to debate how to reform the State Investment Council, the group’s board has announced it will distribute $720 million to public schools and other permanent fund beneficiaries in fiscal year 2011 — an $8 million increase over the current year. Continue Reading
The Legislature is making hard choices to cut government spending and raise the money necessary to pay for essential services. While no one is happy about the choices we are making, all of us can take some comfort in knowing that the Legislature is acting responsibly. Continue Reading
The state now has one employee for every 87 residents. Under libertarian Gary Johnson? One employee for every 81 residents. I hope legislators on both sides of the aisle start to acknowledge how trim our state government has become and work toward a balanced approach to filling our budget gap. Continue Reading
While Senate Majority Leader Harry Reid proposed last week trimming jobs legislation from $85 billion to $15 billion over 10 years, U.S. Rep. Martin Heinrich was home — in his 1st Congressional District — touring a low-income housing construction site that will create or retain 100 jobs for workers who have been collecting unemployment for months. Continue Reading
Many New Mexicans are unaware of the potential tax revenue that could be generated through taxation of gasoline purchased on Native American reservation lands. The exemtion is no longer needed, thanks in part to the casino revenues that are boosting the economies of many Native American pueblos and tribes. Continue Reading
We know our tax policy is not raising an adequate amount of revenue. If it were, we would not be facing a revenue shortfall. So while we must and will cut state spending, we cannot cut it enough to cover the revenue shortfall. Continue Reading
U.S. Rep. Martin Heinrich says grants awarded to technology companies in New Mexico will boost employment, especially in the renewable energy industry. Continue Reading
UPDATED: After the House narrowly approved a temporary, half-cent hike in the state’s gross receipts tax on Friday, Lt. Gov. Diane Denish said she’ll vote against the “harmful tax” in the event of a tie vote in the Senate. The bill’s sponsor, House Speaker Ben Lujan, isn’t too happy about that. Continue Reading
UPDATED: House Speaker Ben Lujan’s bill to implement a temporary half-cent hike in the state’s gross receipts tax would presumably not have passed earlier today if two Republican members hadn’t missed the vote. Continue Reading
Former Gov. Gary Johnson, who’s sounding more and more like a potential presidential candidate, plans to announce his “Three Point-Plan for Economic Prosperity” Tuesday at a press event in Washington. Continue Reading