Suspending New Mexico’s gas tax would save motorists $240 million annually

It’s a very SHORT list of taxes we “like” and there are ways for New Mexico to get more bang for its infrastructure buck, but considering the State’s ongoing budgetary boom (thanks largely to oil and gas production and prices), there are worse things to do in a special session than suspending New Mexico’s 17 cent/gallon gas tax (and diesel fuel tax).

On an annual basis suspending the tax would result in $240 million in savings for New Mexico motorists (p.77). Any lost revenues could easily be made up for using surplus revenues.

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