New Mexican lawmakers approve tax refunds to ease inflation

Brief news

New Mexico’s legislature this week approved sending economic aid to about 1.4 million residents to help with rising costs in the state. This mirrors other efforts in the Mountain West region – the region is seeing the highest inflation rates in the countryside.

Soaring fuel prices, in particular, prompted lawmakers to quickly pass a bill providing tax refunds of $500 for individual filers and $1,000 for households.

“We shouldn’t view this household economic relief as simply vehicle-focused, but it’s the wide range of economic challenges facing our citizens right now,” said Rep. Christine Chandler (D-Los Alamos) , godmother of the bill. , said during a Home meeting tuesday.

the help packageapproved with bipartisan support in a special session, distributes hundreds of millions of dollars and includes relief for non-filers.

“There is $20 million in this bill set aside for non-filers, for whatever reason,” said Sen. Antoinette Sedillo Lopez (D-Albuquerque), another sponsor of the bill. . this state.

Refunds are likely to be made in two instalments, according to the governor’s officethe first at the end of June and the second in August.

At the federal level, US senators from Nevada, Arizona and other states introduced a bill in February, the Gas Price Relief Act 2022, to suspend the federal gas tax. The governors of New Mexico and Colorado have expressed their support for the bill.

This story was produced by the Mountain West News Bureau, a collaboration between Wyoming Public Media, Nevada Public Radio, Boise State Public Radio in Idaho, KUNR in Nevada, the O’Connor Center for the Rocky Mountain West in Montana , KUNC in Colorado, KUNM in New Mexico, with support from affiliate stations throughout the region. Funding for the Mountain West News Bureau is provided in part by the public broadcasting company.

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