Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
House, Senate package seeks to recapture corporate tax capacity; House adds 1% public‑employee raise
Summary
Lawmakers approved a multi‑part tax package that decouples New Mexico from parts of a recent federal corporate tax change, and earmarks revenue for a set of targeted incentives. The House Taxation and Revenue Committee used part of its capacity to restore a 1% pay increase for public employees that the Senate had removed; the package drew extensive debate over economic and local fiscal impacts.
The legislature approved a tax package that unlinks New Mexico from several federal corporate tax changes and uses the regained capacity to fund incentives in health care, housing, and local journalism, alongside a House amendment to restore a 1% salary increase for public employees.
The Senator‑sponsored vehicle (SB151) seeks to "decouple" New Mexico from costliest federal provisions — including first‑year bonus depreciation and expanded interest deductions — that reduced state corporate…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
