Albuquerque’s short-term economic stimulus

If you haven’t been shopping since January 1 (or even if you have, but didn’t look at your receipt), you may not have noticed that Albuquerque gross receipts taxes were recently reduced to 6.625% from 6.875%. This is a New Year’s present of .25% off your purchases.

At first, I didn’t know where the tax cut was coming from, but then I realized that it took until November for voters to approve extension of the .25% transportation tax. While we disagreed with extension of the tax, the fact that City Council took so long to extend the tax has allowed it to lapse (I believe this will be until July 1, 2010). Anyway, enjoy the tax cut while it lasts because if Governor Richardson gets his way, we’ll all be paying higher taxes soon.

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