SHORT TERM PAIN FOR LONG TERM GAIN. THAT MAY BE ONE WAY TO LOOK AT STATE SENATOR RON GRIGGS SENATE BILL 343. ONE OF HIS PROPOSALS IS DESIGNED TO MAKE NEW MEXICO MORE ATTRACTIVE TO BUSINESSES. HE SAYS THE BILL DROPS CORPORATE INCOME TAX TO THREE PERCENT, WHICH IS LOWER THAN ANY STATE IN THE REGION. HE SAYS NEW BUSINESSES WOULD WOULD EVENTUALLY MAKE UP FOR THE LOSS OF REVENUE.
GRIGGS ALSO WANTS TO ELIMINATE INTEREST INCOME AND DIVIDEND INCOME FROM PERSONAL INCOME TAXES FOR ANYONE OVER 55 AS WAY TO ATTRACT MORE RETIREES, INCOME THAT IS TAXED IN ARIZONA AND COLORADO.
