On Friday, Gov. Michelle Lujan Grisham announced the formation of two new task forces focusing on New Mexico’s tax code. According to her news release, the newly-created bureaucratic committees “will analyze aspects of the state tax code, reporting their findings to the governor.”
“These committees will study reform measures thoroughly and help us make sure we get it right,” said the Governor, after she already looks “raise an estimated $70 million in additional state revenue,” through taxing New Mexicans, while branding the measure as creating equality in the tax code.
For instance, an example of one of the Governor’s plans is forcing internet retailers to pay taxes on goods sold, meaning those costs will only trickle on down to New Mexican consumers, who will eat the cost by forking over more money for online products.
It is clear how the New Mexico Taxation and Revenue Department will handle the Governor’s requests to find new money, as they currently have a 25% vacancy rate.
It seems the Governor is spending money faster than she can rake it in, despite the $7.8 billion in revenue raked in through the oil and gas sector. Lujan Grisham’s $70 million in higher taxes for New Mexico families will only hurt low-income families, while not doing much for the state.
All of these proposals by the Governor come as she recently signed into law the “Energy Transition Act,” which is New Mexico’s very own “Green New Steal,” meant to annihilate the oil and gas industry by 2045.
New Mexicans should brace for one thing and one thing only from these newly-created tax taskforces: higher taxes and less money in their paychecks.