New Mexico lawmakers approved a sweeping tax package with a $1 billion annual price tag that New Mexico Gov. Michelle Luján Grisham (D) has warned is too high.
The package, passed on the last day of session March 18, is a mix of tax increases and tax cuts lawmakers said is aimed at making the overall tax system more progressive and equitable at a time when the state has $5 billion in cash reserves from historic oil and gas production and broad economic growth.
The Democratic Legislature’s measure would flatten the corporate income ...
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