Stimulus Push: New Mexicans Could See Another Round of $750 Checks in 2023
Taxpayers in New Mexico who received state-issued tax rebates this year might see another round of checks in the new year. Gov. Michelle Lujan Grisham is reportedly planning to push for legislation that would put another $750 into the pockets of qualifying individuals and $1,500 in couples’ who file jointly.
Grisham’s spokesperson, Nora Meyers Sackett wrote in an email on Wednesday that details of the proposal for more tax rebate checks for New Mexicans “continue to be hammered out” and that the governor will work “closely with legislative leadership as the session approaches to finalize a potential package and keep more money in New Mexicans’ pockets.”
The news of a possible additional round of tax rebate checks for qualifying New Mexicans in 2023 comes just a few days after New Mexico economists estimated that government income from July 2023 to June 2024 would exceed current annual spending needs by $3.6 billion, or 43%. One billion dollars is 27.8% of this estimated $3.6 billion budget windfall.
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The proposal, driven by rising costs due to inflation, has received Democrat support. Republicans aren’t quite sold.
Rep. Ryan Lane, R-Aztec, called the idea “good” but “not the greatest good,” as The Santa Fe New Mexican reported.
“It’s nice to have money in your pocket that lasts a month or two, but then it’s gone,” said Lane. “What if we made changes that would put money in your pockets and your kid’s pocket and your kid’s kid’s pocket?”
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