KUNM

New Mexico Tax Research Institute

Bid To Raise Gas Tax Stalls Over Politics

Mar 4, 2016
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Over the past few years New Mexico has used short-term solutions to balance the budget without raising taxes. But if oil and gas prices stay low, it will become more and more of a challenge to find the money the state needs to pay the bills.

Raising at least some taxes might not be politically popular, but Sen. John Arthur Smith, chairman of the Senate Finance Committee, argues it’s the fiscally conservative thing to do. And he wants to start with the gas tax.