At the Roundhouse this week, a House Committee gave it’s thumbs-up to a bill seeking to exempt social security earnings from New Mexico’s income tax.
Tom Trowbridge reports:
Runs 1:30 Q: Std
House Bill 49—sponsored by Republican Representatives Cathrynn Brown of Carlsbad, Gail Armstrong of Socorro and Rebecca Dow of Truth or Consequences—received a “do-pass” recommendation from the House Labor, Veterans’ and Military Affairs Committee.
Here’s some of what Representative Brown told the panel:
Brown and other supporters of the bill say repealing the income tax on social security income will send a signal to retirees that New Mexico is serious about becoming a retirement destination.
However, House Bill 49 has generated concerns from some public-interest groups, including New Mexico Voices for Children. Bill Jordan spoke on behalf of the non-profit when he said it stands in strong opposition to the bill:
House Bill 49 now moves on to the House Taxation Committee.
For the New Mexico News Network, I’m Tom Trowbridge
We now continue our coverage in the trial of former Minneapolis Police officer Derek Chauvin. KRWG News talked with Doctor Bobbie Green on Tuesday. She is