New Mexico Proposes Food Tax
BARRY MASSEY
BusinessWeek
March 2, 2010
Editor’s note: New Mexico ranks second in families below the poverty level.
- A d v e r t i s e m e n t
New Mexico will pay higher taxes when they buy goods and services, including food, under a budget-balancing package proposed by Democratic legislative leaders.
The House and Senate will consider the budget package, including more than $200 million in tax increases, during a special session that convenes Monday.
Gov. Bill Richardson called lawmakers back to work after they failed to agree on a state budget during a 30-day legislative session that ended last month.
It was the first time in 26 years the Legislature finished a regular session without approving a plan for financing public schools and state government.
Democratic leaders met last week and negotiated a budget-balancing package of tax increases and spending cuts. Persuading House and Senate rank-and-file members to back the proposals won’t be easy, however.
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