Guv orders job and agency cuts, furloughs

UPDATED: Gov. Bill Richardson today smacked down an attempt by lawmakers to force 7.6-percent cuts on state agencies under his control, but announced his own plans to cut at least 84 political appointee jobs, order employees under his control to take five furlough days and trim agency budgets under his control by an average of 7 percent. Continue Reading

Corporate tax debate has been misleading

The characterization of combined reporting being spread by proponents – that it will eliminate a loophole that permits large, multi-state corporations to shift income earned in New Mexico to other, more tax-friendly states — omits the principal features of combined reporting, misstates the tax liability of local companies and exaggerates the likely state revenue impact of combined reporting. Continue Reading