According to information provided by the Committee to Unleash Prosperity, there are 14 states reducing personal income tax rates in 2024. You can see a map of those states below:
Sadly, even with massive budget surpluses New Mexico is NOT among the states working to improve its tax structure and thus its economic competitiveness. HB 252 is the best opportunity for personal income tax reductions in New Mexico this session.
New Mexico’s elected officials are allowing the State to continue to fall behind more aggressive states.