HIGHER TAXES ON GASOLINE AND VEHICLE SALES IN NEW MEXICO ARE ONE STEP CLOSER FOLLOWING A SENATE VOTE THURSDAY IN SANTA FE. THE SENATE VOTED TO APPROVE THE INCREASES ON A 29-13 VOTE, WITH THREE REPUBLICANS JOINING THE DEMOCRATS IN VOTING YES.
DURING DEBATE ON THE MEASURE, SENATE FINANCE COMMITTEE CHAIRMAN JOHN ARTHUR SMITH CAUTIONED LAWMAKERS THAT SCHOOLS, UNIVERSITIES AND HEALTH CARE PROGRAMS FACE CUTS OF 5 PERCENT OR HIGHER UNLESS STATE REVENUES ARE INCREASED. UNDER THE PROPOSAL, THE GAS TAX WOULD INCREASE 10 CENTS A GALLON, 5 CENTS ON DIESEL AND THE SALES TAX ON VEHICLES GOES UP FROM 3 TO 4 PERCENT. IT’S ESTIMATED THE INCREASES WOULD GENERATE ABOUT 183 MILLION DOLLARS.
GOVERNOR MARTINEZ HAS VOWED SHE’LL VETO ANY TAX INCREASES THIS YEAR.
