New Mexico expanded tax programs for low-income earners under a law signed Tuesday by Gov. Michelle Lujan Grisham.
The measure (H.B. 291) increases the income limit for the state’s Low-Income Comprehensive Tax Rebate to $36,000 annually, from $22,000. The maximum rebate for the program increases up to $730, from $450.
- Childless adults ages 18 to 24 are newly eligible for New Mexico’s Working Families Tax Credit. That credit will increase to 25% of the federal Earned Income Tax Credit in 2023.
- Lujan Grisham (D) said the measure aims to boost efforts to lift families out of ...