Stimulus update: New Mexico bill providing payments worth up to $1,000 passes House
Asher Notheis
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New Mexico residents could receive payments worth up to $1,000 thanks to recent legislation passed in the state House of Representatives on Sunday.
The legislation, House Bill 547, would give New Mexico residents a rebate of $500 if they are single taxpayers or $1,000 if they are married filers. The bill was passed in the House by a vote of 50-18 and is now heading to a vote in the state Senate, according to the New Mexico Political Report.
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“We heard the public, we heard members of this body and the Senate — we should give [more] money back to the people of New Mexico,” said Democratic state Rep. Derrick Lente (D), who introduced the bill on the House floor on Sunday.
The legislation increases the rebate amount initially pitched by over 50%. In the original legislation, single filers would have gotten $300, while joint filers would have gotten $600.
Included in the legislation is an increase in corporate tax deductions as well as a child income tax credit worth up to $600 for eligible taxpayers.
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Though the legislation passed in the House is much higher than initially pitched, it is not as high as Gov. Michelle Lujan Grisham (D) suggested earlier this year in January. In legislation introduced by Grisham, she suggested one-time rebate payments worth $750 for single taxpayers and $1,500 for joint filers.
“As prices remain high across the country, we can and we should take action to help more New Mexicans afford the things they need right now,” Grisham said in a press release. “As our state continues to see the results of our continued and targeted investments that have resulted in an unprecedented financial windfall, I look forward to working with the legislature to put more money back in the pockets of New Mexico families.”