Gov. Lujan Grisham priority tax cuts pass House
SANTA FE – Gov. Michelle Lujan Grisham on Monday applauded the House passage of legislation that includes eliminating the tax on Social Security benefits for low- and middle- income seniors and cutting the state gross receipts tax rate, two of her legislative priorities for the current session:
“I am glad to see bipartisan support for these tax cuts. Cutting gross receipts taxes for the first time in 40 years will keep nearly $200 million in the pockets of New Mexicans statewide, and ending the tax on Social Security benefits lifts one more burden from the shoulders of seniors living on fixed incomes.
“I am also encouraged by the House’s inclusion of a child tax credit, providing further relief and support to New Mexico families that has been proven to be immensely impactful. I thank the House for their commitment to key tools that will support financial and economic success all across the state.”