This afternoon, at a time known only to the committee chair, the Senate Finance Committee will meet to hear a slate of bills. Among them is HB 291, yet another attempt to broadly raise taxes and stifle New Mexico’s economy. The property tax hike on second homes was amended out of the bill, but it still contains an added top income tax bracket and higher corporate taxes, among other changes. This is the last committee HB 291 needs to clear before it goes to the Senate floor.
The Rio Grande Foundation has submitted testimony in opposition to HB 291.