Skip to Content
AP New Mexico

Legislators shun bill to halt tax on Social Security income

MGN
By
Published 5:45 PM

By MORGAN LEE
Associated Press

SANTA FE, N.M. (AP) — A bill to do away with New Mexico’s tax on Social Security income for middle- and upper-income residents has faltered at an initial public hearing, highlighting reluctance among many Democratic legislators. The state already exempts low-income beneficiaries from the tax. A state House panel declined Tuesday to endorse legislation that would gradually eliminate the tax by 2026, on a tie 4-4 vote with Democrats in opposition. Democratic Gov. Michelle Lujan Grisham endorsed a Social Security tax cut earlier this month in her State of the State speech, with several bills pending. Eliminating income tax on Social Security benefits would reduce annual general fund revenues by as much as $160 million.

Article Topic Follows: AP New Mexico

Jump to comments ↓

Associated Press

BE PART OF THE CONVERSATION

KVIA ABC 7 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content