WATCH LIVE: Governor Susana Martinez’s news conference in Las Cruces is underway
New Mexico Gov. Susana Martinez is holding a news conference at the New Mexico State University Police Department headquarters.
CLICK HERE TO WATCH THE NEWS CONFERENCE LIVE.
The governor recently vetoed a $350 million package of tax and fee increases designed to shore up shaky state government finances.
Friday, Martinez said the Legislature ignored her repeated promises to veto any tax increases. She says a proposal to raise taxes on gasoline and diesel sales would place an undue burden on families.
The governor also objects to new taxes on the sale of vehicles and trucking permit fees approved by the Democrat-led Legislature.
New Mexico’s traditional streams of tax revenue have been eroded by relatively weak energy prices and a stagnant local economy, with reserves nearly depleted.
Martinez says she will call a special session to resolve a $156 million budget shortfall, but has not specified when.
She is urging lawmakers to support a tax-code overhaul designed to improve the state’s business climate by eliminating hundreds of tax breaks, including long-standing exemptions for nonprofit organizations.The reforms would lower standard tax rates on sales and services.
