THE CHAIRMAN OF THE SENATE FINANCE COMMITTEE SAYS NEW MEXICO’S ECONOMY IS LOOKING UP. SENATOR JOHN ARTHUR SMITH IS POINTING TO A PROJECTED INCREASE IN STATE REVENUE OF 155 MILLION DOLLARS. SMITH TELLS 770 KKOB GROSS RECEIPTS TAXES ARE UP BECAUSE CONSUMERS ARE SPENDING MORE. HE SAYS IT SHOULD TRANSLATE INTO MORE JOBS FOR THE STATE.
SMITH SAYS CORPORATE INCOME TAXES ARE ALSO UP. AND WHILE OIL AND GAS REVENUE IS DOWN THROUGH APRIL DUE TO LOW PRICES…THE DROP WASN’T AS BAD AS HAD BEEN EXPECTED.
