Gerry Bradley

A report released this week by the Institute on Taxation and Economic Policy provides state by state comparisons of how regressive or progressive a state’s tax system is. The analysis of New Mexico is found on pages 78 and 79, and shows that the state has a regressive tax system.
This means that the lowest income [...]

When Richard Berry moves into Albuquerque’s mayor’s office in December, he’ll inherit a government faced with significant economic challenges. While Mayor Martin Chavez was hammered for companies closing shop and leaving town, the reality is that Albuquerque itself—like other cities—is being hammered by the worst economic crisis the nation has seen in generations.

Kate Nash of the Santa Fe New Mexican gives us a story today about another group — this time the American Federation of Teachers New Mexico — calling for a repeal of the 2003 income tax cuts to help the state balance its budget this year.

A recent national report evaluating the quality and quantity of information available to the public on state level American Recovery and Reinvestment Act (ARRA) — a.k.a. the federal stimulus package — basically gives a failing grade to New Mexico along with just about every other state as well.

Not only is New Mexico’s unemployment fund one of the most solvent in the nation, its economy is getting a boost from unemployment payments.
For every $1 in unemployment benefits paid, the local economy benefits by $1.73, according to a report in the New Mexico Business Weekly.

In a recent story about the concept of a tax expenditure budget, I quoted a local economist who made a point of saying that New Mexico’s tax code was written by Franklin Jones and Gerry Boyle. Both men had a very significant impact on economists and finance experts in the state.

The total amount of tax breaks on the books is larger than New Mexico’s general fund, a report says, but it’s hard to tell who’s benefiting and what to cut, thanks to a 2007 veto by Gov. Bill Richardson.