New Mexico

The recent spike in gasoline prices is on pace to cost American drivers an extra $9.4 billion per month. Gas prices are up dramatically across the country, but the South has been hit hardest and is on pace to pay $4.2 billion more per month.

On top of declining to fold large federal business tax cuts into state law, New Mexico also took the monumental step of hardening the state’s corporate tax base against offshore profit shifting.

By decoupling from three misguided federal corporate income tax cuts under the One Big Beautiful Bill, plus taking steps to curb unfair corporate tax avoidance, SB 151 would raise and safeguard more than $120 million annually.

Most states are adopting a very cautious approach so far this year as legislators begin their sessions and governors make their annual addresses, thanks to ongoing economic uncertainty and federal retrenchment.

As we kick off a new year, several states are facing revenue shortfalls. Some lawmakers are approaching the challenge with sustainable and equitable solutions.

Despite being an off-year election, voters made a call for shared public investments at the polls.

Taxing the proceeds generated by wealth through a new Wealth Proceeds Tax is a simple way for states to raise billions in new revenue and improve the fairness of their tax systems.

Nearly two-thirds of states now have an Earned Income Tax Credit (EITC). Momentum continues to build on these credits that boost low-paid workers’ incomes and offset some of the taxes they pay, helping lower-income families achieve greater economic security.

Child Tax Credits (CTCs) are effective tools to bolster the economic security of low- and middle-income families and position the next generation for success.