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Committee gives due pass to bill doubling New Mexico's Working Families Tax Credit
House of Representatives - Health Committee · February 9, 2026
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Summary
Sponsor said HB296 would double the working families tax credit and could benefit roughly 200,000 households in 2024; the fiscal-impact report estimated a significant general-fund cost (presenter cited about $138 million FY27), and the committee recommended a due pass.
The sponsor introduced House Bill 296 to double New Mexico's Working Families Tax Credit. The sponsor noted that in 2024 more than 200,000 New Mexico families used the existing credit and that doubling the credit would make New Mexico’s program one of the largest work incentives in the country. The…
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