ITEP Work in Action
ITEP’s Carl Davis: Pyramids, Cascades, and the Taxation of Business Inputs
August 26, 2024
ITEP Research Director Carl Davis gave this presentation to the New Mexico Revenue Stabilization and Tax Policy Committee on August 23, 2024. View the slides here.
New Mexico Taxation and Revenue Department: New Mexico Among Top 10 for Tax Equity
January 15, 2024
New Mexico is now among the top 10 states for most equitable tax structures thanks mostly to changes signed into law by Gov. Michelle Lujan Grisham over the past five years, according to a new report by the Institute on Taxation and Economic Policy (ITEP). Read more.
ITEP’s Carl Davis: Who Pays New Mexico Taxes?
October 22, 2023
ITEP Research Director Carl Davis gave a presentation on New Mexico’s tax system to that state’s Revenue Stabilization and Tax Policy Committee on October 19, 2023. Click here for the slide deck.
New Mexico Voices for Children: Essential But Excluded
April 30, 2020
Immigrants pay taxes and are important contributors to New Mexico’s economy. Nationwide, immigrants pay hundreds of billions of dollars in federal, state, and local income and other taxes. New Mexico immigrants – both legal residents and those who are undocumented – contribute more than $996 million in federal, state, and local taxes that help support […]
New Mexico Voices for Children: Expanding New Mexico’s Best Anti-Poverty Program
January 28, 2020
The Working Families Tax Credit (WFTC) is New Mexico’s equivalent of the federal Earned Income Tax Credit (EITC). The WFTC’s eligibility levels and credit amounts are based directly on the EITC, and like most states, the amount is a set percentage of the federal EITC. These tax credits reduce poverty, improve outcomes for children, and […]
Time to restore fairness to the personal income tax and break the boom-or-bust cycle
January 22, 2019
Our citizen legislators have lots of choices to make when they meet for the annual legislative session every January – how to prioritize spending on public services like education, health care and public safety, which laws to enact, and whether to make changes to our state’s tax code.
New Mexico Voices for Children: The Cliff Effect: One Step Forward, Two Steps Back
November 29, 2018
This report focuses on the cliff effect that occurs with the loss of child care assistance for New Mexico families. Losing child care assistance is especially detrimental to families because the cost of child care is so high. High-quality child care costs more than tuition and fees at New Mexico’s 4-year public universities, so it is an expense that even middle-income families struggle to meet. This report looks at the intensity of the child care cliff effect in New Mexico, as well as problems with income eligibility ceilings and co-pays, and offers policy solutions to these problems.
New Mexico Voices for Children: The Next Governor Should Improve Our Tax System and Increase Wages
November 2, 2018
When it comes to fairness, New Mexico’s tax system is backwards. Those who earn the smallest incomes pay the highest rates in state and local taxes, according to a new report from the Institute on Taxation and Economic Policy. The responsibility for taxes should not fall hardest on those with the least ability to pay, but it does. There are several ways we can make our tax system fairer.
KRWG: Lowest-Income Taxpayers in NM Pay 1.8 Times the Tax Rate Paid by the Richest New Mexicans
October 18, 2018
Commentary: A new study released by the Institute on Taxation and Economic Policy (ITEP) finds that the lowest-income New Mexicans pay a state and local tax rate that is almost double what the state’s wealthiest residents pay as a share of their income.
New Mexico Voices for Children: New Analysis: Lowest-Income Taxpayers in NM Pay 1.8 Times the Tax Rate Paid by the Richest New Mexicans
October 17, 2018
“Taxes are the way we accomplish great things for our state – build our schools and infrastructure, provide health care and public safety, and more,” said James Jimenez, executive director of New Mexico Voices for Children, which partnered with ITEP on the report release. “These systems and services underpin our economy and improve our quality of life. We all need to do our part to support them, but our current state tax system ensures that those who can afford to pay the most actually pay the least.”
Public News Service: Report: NM Tax Overhaul Would Benefit Kids, Families
October 17, 2018
Regressive tax systems hurt children and families, according to a new report from the Institute on Taxation and Economic Policy - and by that standard, it says New Mexico has the 19th-worst tax system in the United States. The study showed that as a share of their income, the lowest-income New Mexicans are paying state and local tax rates almost double those of the state's wealthiest residents.
New Mexico Voices for Children: Celebrate Democracy- It’s Tax Day!
April 17, 2018
While it’s easy to tick off a list of the things we enjoy that are paid for out of our taxes, paying taxes is really a moral duty that we all participate in. It is a contract that we honor collectively because it’s the way we invest in our communities. In fact, some research shows that Americans […]
New Mexico Voices for Children: The Trump Tax Plan Isn’t ‘Reform.’ Here’s Why:
September 1, 2017
In April the Trump administration released a sketchy outline of their half-baked ideas for tax changes. An analysis by the Washington, D.C.-based Institute for Taxation and Economic Policy (ITEP) of that back-of-the-envelope ‘plan’ found that nearly half (48 percent) of Trump’s proposed tax cuts would go to millionaires. Millionaires make up only 0.5 percent of the U.S. population.
New Mexico Voices for Children: Trump Tax Plan Does Little for NM’s Middle Class
August 31, 2017
Average New Mexicans would not benefit much from President Trump’s tax reform proposal, which would give the biggest tax breaks to New Mexico’s millionaires. That’s according to a report released recently by the Institute on Taxation and Economic Policy (ITEP).
New Mexico Voices for Children: NM’s Working Families Tax Credits
January 30, 2017
As a group, those who claim the EITC and WFTC pay a large share of their incomes in taxes. In fact, in addition to the federal payroll taxes they pay, New Mexico’s lowest-income households pay a larger share of their income in state and local taxes than the households in every other income group. Those […]
New Mexico Voices for Children: Why the poor pay the highest tax rate in New Mexico–and one step toward a fix
January 21, 2015
It’s widely agreed that the poorest among us should not pay the highest tax rate, but in New Mexico (as in most states) they do. State and local taxes—particularly sales and property taxes (shown in the light blue and orange bars in the graphic below)—take up a higher percentage of incomes at the lowest end […]
New Mexico Voices for Children: Expanding New Mexico’s Working Families Tax Credit Would Generate Economic Activity and Help Hard-Working Families
November 3, 2014
New Mexico’s Working Families Tax Credit not only lifts tens of thousands of low-income families out of poverty each year, it also generates economic activity because the money is spent quickly and locally. Increasing the value of the credit would help with New Mexico’s sluggish recovery and cost the state much less than recently enacted […]
New Mexico Voices for Children: New Mexico’s Capital Gains Deduction: A Capital Loss for New Mexicans
July 31, 2014
Legislation enacted in 2003 that allows New Mexicans with capital gains income to deduct half of that income from their state taxes has failed as an economic development tool. Further, it makes the state’s overall tax system lean more heavily on low-income families and exemplifies the need for a more robust accounting of tax giveaways. […]
New Mexico Voices for Children: Citizen’s Guide to New Mexico’s Tax System
July 31, 2014
Citizen’s Guide to the New Mexico State BudgetThis guide focuses on the operating budget—the annual spending for ongoing programs and services that affect the lives of every New Mexico resident. Read the Full Report (PDF)
New Mexico Voices for Children: Immigrants and the New Mexico Economy: Working Hard for Low Wages
January 15, 2013
The current debate over immigration – and particularly over immigrants without legal residency status – often centers on whether or not this group of people contributes to the economy or diminishes it. A 2006 Fiscal Policy Project report, “Undocumented Immigrants in New Mexico: State Tax Contributions and Fiscal Concerns,” concluded that undocumented immigrants contribute more […]
New Mexico Voices for Children: Revenue Generators
January 14, 2013
The current debate over immigration – and particularly over immigrants without legal residency status – often centers on whether or not this group of people contributes to the economy or diminishes it. A 2006 Fiscal Policy Project report, “Undocumented Immigrants in New Mexico: State Tax Contributions and Fiscal Concerns,” concluded that undocumented immigrants contribute more […]
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