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. / Creative Commons License

The Bernalillo County Commission voted last night to postpone a tax hike for a special session that will likely happen next week. The one-quarter of 1 percent tax increase on goods and services would be divided up as follows: Half of it would go to mental health and substance abuse treatment services, and half of it would go to the county’s operational budget.

Photo by Andreas Demmelbauer courtesy of Creative Commons

A New Mexico company rejects tax incentives to leave the state and the solar industry takes a hit in the international market.