ABQ Councilor Brook Bassan plans to bring her tax hike back yet again

According to a well-placed source we expect that Councilor Brook Bassan plans to bring her near half-cent gross receipts tax hike back before Albuquerque City Council once again. We assume the plan is to put it on voters’ ballots this fall, but don’t know the details. Her latest attempt to get it on the ballot was rejected on a 5-4 “strange bedfellows” vote by Council earlier this summer with conservatives: Lewis, Champine, and Grout being joined by progressives Tellez and Fiebelkorn. Has Bassan successfully moved someone in that coalition to vote for her precious tax hike? Only time will tell.

We expect the tax hike to be introduced on August 3 and for a final vote to be held on August 17.

Needless to say, the latest plan to raise a regressive tax (impacting the poor the most) and that hits businesses hard at a time of great economic turmoil is not something the Rio Grande Foundation or anyone should support for that matter. The proposed tax is estimated to bring in an additional $113 million ANNUALLY to the City meaning that it takes precisely that much out of  OUR pockets (every year).

We ALSO have good information indicating that the true and expected “FINAL” cost of the swimming pool which was originally expected to cost $17 million and was estimated to cost $70 million, is NOW estimated to have a final price tag of an eye popping $100 million.

Stay tuned for further details on this massive tax hike and boondoggle.