Tuesday, September 21, 2021

Play

The American Rescue Plan could provide essential training to boost jobs in construction, and we explore a trauma-informed approach to preventing marijuana use in teens.

Play

Pfizer says its vaccine is safe for children ages 5 to 11, travel restrictions soon will ease for vaccinated international visitors to the U.S., and a Texas doctor who performed an abortion under new restrictions is sued.

Play

Lawsuits stall debt relief for America's Black farmers; Idaho hospitals using "critical care" protocols; grant money boosts rural towns in Utah and more conservation acreage could protect the iconic sage grouse.

Report: NM Tax Overhaul Would Benefit Kids, Families

Play

Wednesday, October 17, 2018   

ALBUQUERQUE, N.M. - Regressive tax systems hurt children and families, according to a new report from the Institute on Taxation and Economic Policy - and by that standard, it says New Mexico has the 19th-worst tax system in the United States.

The study showed that as a share of their income, the lowest-income New Mexicans are paying state and local tax rates almost double those of the state's wealthiest residents.

James Jimenez, executive director of New Mexico Voices for Children, said state policymakers could address the inequity by embracing a more progressive tax system.

"It's really a much fairer way of allocating tax responsibility to support the kinds of things that we need - good, strong schools and higher education, great infrastructure," he said. "Those are really the fundamental things that we need to figure out how to pay for in a fair way."

In New Mexico, the report said, those who earn the least pay 10.6 percent of their income in state and local taxes, while those who earn the most pay just 6 percent. That means after state and local taxes are collected, the after-tax income of New Mexico's top earners increases to an average 77 times the after-tax income of the state's low-income residents.

New Mexico's tax system is considered regressive because the lower a person's income, the higher their effective tax rate. In other words, the smaller your paycheck, the more of it you spend on daily living expenses, most of which are taxed. Jimenez said the state's current tax system ensures that those who can afford to pay the most actually pay the least.

"We are asking those who make least in our state to pay the highest share of their income in state and local taxes," he said, "which we just think is just fundamentally unfair, that we need to reverse that."

Both of New Mexico's gubernatorial candidates have vowed to tackle the tax system, if elected. Democrat Michelle Lujan Grisham has said she'll convene a bipartisan tax commission to revise the complex system of gross receipts taxes. Republican Steve Pearce also has pledged to overhaul the state tax system.

The study is online at itep.org.


get more stories like this via email

Food prices are rising nationwide, and the cost of a grocery store trip is up 3.5% from a year ago, according to a USDA report. (Adobe Stock)

Social Issues

RALEIGH, N.C. -- More than $1 million in COVID-19 relief grants are helping rural organizations increase their focus on locally sourced food relief…


Environment

DES MOINES, Iowa -- This fall, the Iowa Utilities Board is hosting meetings to inform the public about a proposed underground pipeline, which would …

Social Issues

MANDAN, N.D. -- North Dakota has had nearly 18,000 job openings in recent months, with roughly 1,000 in construction. A labor leader in the trades …


Approximately 3% of the 1,500 students in Montgomery County who were screened for behavioral health indicators were found to be at risk of substance use. (Adobe Stock)

Health and Wellness

DAYTON, Ohio -- An Ohio county is taking a trauma-informed approach to its work on preventing marijuana use in teens. As marijuana policy changes …

Environment

MONTEREY BAY, Calif. - This week, conservation groups are celebrating Sea Otter Awareness Week with online and in-person events across the state…

More than 80% of Nevada is public land owned by the federal government, which is charged with managing it for the public's benefit. (Kurt Kuznicki)

Environment

LAS VEGAS, Nev. - Admission to any state park in Nevada is free this coming Saturday, as part of the first Nevada Public Lands Week - with a series …

Social Issues

HARRISBURG, Pa. - A new Redistricting Advisory Council announced last week by Gov. Tom Wolf's office will focus on reducing gerrymandering as new …

Environment

DULUTH, Minn. - As Minnesota looks to address the impact of climate change on the region, land managers and policymakers are reminded of the role …

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member and audience-supported news source since 1996 Copyright 2021