Gov. Michelle Lujan Grisham (D-NM) is reportedly encouraging New Mexico lawmakers to tap into the state's projected surplus to fund bolstered tax rebates to residents.
The Land of Enchantment's projected budget surplus could reach as high as $3.6 billion due to a gush of oil and gas production. So far, the tentative plan is to pursue rebates of about $750 per taxpayer or $1,500 per jointly filing couple, according to Nora Meyers Sackett, a spokeswoman for the governor.
“The record-high revenue projections present a unique opportunity to keep more money in New Mexicans’ pockets,” Sackett said, according to a KRQE News 13 report. “The governor will continue to work closely with legislative leadership as the session approaches to finalize a potential package.” During this past year, New Mexico has distributed three different waves of rebates, rolled out in May, July, and August, respectively.
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