NEW MEXICANS HAVEN’T HAD TO PAY TAX ON FOOD SINCE IT WAS ELIMINATED IN 2005. BUT THAT COULD CHANGE, DESPITE GOVERNOR MARTINEZ’S OBJECTION TO THE TAX AND FEE HIKES IN THE BUDGET PLAN FROM LEGISLATORS THIS YEAR.
NEWS PARTNER KOB TV REPORTS MARTINEZ IS PUSHING FOR PASSAGE OF A TAX REFORM PLAN DURING THE SPECIAL SESSION THAT STARTS WEDNESDAY. IT INCLUDES NEW TAXES ON FOOD AND MEDICINE AND WOULD BASICALLY LOWER THE OVERALL TAX RATE FOR GOODS AND SERVICES, BUT ALSO BROADEN THE TAX BASE.
MARTINEZ TELLS KOB TV SHE FAVORS SPREADING THE TAX BASE AND LOWERING THE RATE ACROSS THE BOARD FOR FAMILIES. TAX REFORM ALSO WOULD GET RID OF ALL TAX EXEMPTIONS, MEANING CHURCHES, SCHOOLS, AND NON-PROFITS WOULD HAVE TO PAY TAXES THEY HAVEN’T HAD TO PAY IN THE PAST.
