The Positive Economic Impact of Richardson’s 2003 Tax Cuts

Governor Richardson's big-spending ways have often drawn the ire of fiscal conservatives (like the Rio Grande Foundation), but there is no doubt that the 2003 tax cuts which he pushed through the Legislature that year have resulted in a burst of economic prosperity for New Mexicans, especially when compared to other states.

In fact, as personal income data from the U.S. Dept. of Commerce, Bureau of Economic Analysis and compiled online by New Mexico’s own Bureau of Business & Economic Research clearly shows the upward trend that started after 2003.

Read the full text of the new study here.