Our Tax Plan Focuses on Work, Family Choice, and Affordability
Santa Fe, NM — House Republicans are rolling out a comprehensive Tax Relief Plan focused on one simple goal: letting New Mexicans keep more of their own money.
Families across our state are working harder, paying more, and getting less in return. Our tax plan takes a different approach. Instead of growing government, we are cutting taxes on work, supporting family choice, and protecting retirement income.
Protecting Paychecks and Rewarding Work
Work should be rewarded, not penalized. Our tax plan includes HB 264, a major piece of legislation that updates New Mexico's tax code to reflect how people actually earn a living.
HB 264 locks in common-sense tax relief for working New Mexicans by:
Codifying no state income tax on tips, so service workers keep more of what they earn
Reducing taxes on overtime pay and Social Security income
Expanding the Earned Income Tax Credit to support working families
Creating new tax credits for foster parents and legal guardians caring for vulnerable children
Expanding deductions for medical and healthcare expenses
Providing tax relief for healthcare practitioners, helping protect access to care statewide
These reforms are about respecting work, supporting caregivers, and easing the pressure families feel every month
Respecting Family Choice in Child Care
Families know what works best for their children. Our tax plan includes HB 106 to make sure the tax code respects that choice.
HB 106 provides a refundable income tax credit for parents who choose to care for their young children at home. Parents who provide care themselves should not be penalized simply because they did not enroll their child in a government-run or private program.
This bill supports families directly without mandates, bureaucracy, or one-size-fits-all policies
Protecting Retirement Income for Seniors
Seniors should not be taxed on the benefits they earned over a lifetime of work. That is why our tax plan includes HB 92, which expands and phases in a full exemption of Social Security income from state taxation.
As costs continue to rise, protecting fixed retirement income is not optional. It is a matter of fairness and stability for seniors who want to remain in New Mexico.
HB 92 provides long-term certainty and relief for retirees across our state
A Clear Tax Plan for Affordability
Our tax plan is focused on real relief, not political talking points. We are cutting taxes on work, respecting family choice, and protecting retirement income because those are the pressures New Mexicans feel every day.
House Republicans believe the best way to help families afford life in New Mexico is to let them keep more of what they earn. This tax plan reflects that commitment.
