Press Release

Bipartisan Tax Package Would Diversify Our Economy, Help Working Families and the Elderly

By May 20, 2015 No Comments

Bipartisan Tax Package Would Diversify Our Economy, Help Working Families and the Elderly

Albuquerque, NM– As the chance for a special legislative session continues to dwindle, Senate Democrats refused to support a bipartisan tax package which included proposals from both Republican and Democrat lawmakers.

Many of these proposals were designed to level the playing field for local “mom and pop” shops across New Mexico as well as attract new small business to the state. This set of proposals was an example of Democrats and Republicans working together with solutions everyone can agree on. However, the deal fell through and will likely not be revived.

“There were a lot of good ideas that were agreed on initially, but now Senate Democrats are backtracking,” said Pat Garrett, spokesman for the Republican Party of New Mexico.

One important proposal was extending a tax deduction specifically designed to benefit working families and the elderly who seek expensive medical care.

Legislation, authored by Representative Terry McMillan of Las Cruces, would have allowed the costs of some medical expenses to be deducted from one’s taxes. Because this bill has not become law; 300,000 New Mexicans will see a tax increase — including working families and the elderly.

“Sadly, 300,000 New Mexicans—mainly working families and the elderly—will now be forced to pay higher taxes,” Garrett continued.

The tax compromise passed the New Mexico State House unanimously, but failed in the New Mexico Senate in the waning hours of the legislative session.

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