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AP New Mexico

New Mexico governor slashes taxes as she pursues reelection

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Published 4:05 PM

By MORGAN LEE
Associated Press

SANTA FE, N.M. (AP) — New Mexico’s Democratic governor has signed tax relief legislation that hands out $250 individual rebates in an election year and narrows income taxes on Social Security to upper-income retirees. Gov. Michelle Lujan Grisham on Tuesday signed a bill with an array of tax rebate, credit and rate changes worth about $530 million in the initiative’s first year. She also urged Congress to suspend the federal gasoline tax in response to rising fuel prices and President Biden’s decision to cut off Russian oil imports. New Mexico is experiencing a windfall of state government income linked to oil production and federal pandemic aid.

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