An excellent win for New Mexico: HB 148 Unemployment Contribution Rate Change, Rep. Chandler, was tabled Monday on a 16-3 vote in House Appropriations! This anti-business bill would cause unemployment tax rates to increase 200 – 300% or more causing hours to be cut and jobs to be lost.
Our call to action was supported by several great business groups and netted over 4,000 emails to committee members opposing this bad bill. We appreciate every business leader, owner and employee who took the time to send an email and want to thank Walter Bradley, Former NM Lt. Governor, Dairy Farmers of America, Jane Jernigan, NM Utility Contractors Association and Carol Wight, NM Restaurant Association and others who shared the Call to Action.
Another win for New Mexico: HB 278 Manufacturing Services Gross Receipts, Rep. Harper, received a unanimous ‘Do-Pass’ from House Taxation and Revenue yesterday. Rep Harper, who is the state tax guru, has worked tirelessly to correct the myriad problems with New Mexico’s tax code. He has spent countless hours looking at the issues which cause our taxes to be uncompetitive with other states and to propose common sense solutions to address them. This bill provides a 100% gross receipts tax deduction for the sale of certain interbusiness services and also expands the manufacturing GRT deduction, which will help NM be more attractive to manufacturing operations.