New Mexico lawmakers will be asked to approve $210 million in rebates and tax breaks at the special legislative session expected to begin soon.
Gov. Bill Richardson’s so-called Cash Assistance Relief Effort package also includes expanded health care and $3.2 million in emergency funds so school districts can continue buying fuel for buses.
“This is a comprehensive package to provide a shot in the arm for New Mexicans who are getting hit hard as a result of high gas prices,” Richardson said. “New Mexico is doing well. With our balanced budget and surplus we are in a position where we can step in and help.”
The CARE package allocates $163 million for tax rebates that will average about $200 per person. Low- and middle-income families with children would receive the highest rebates.
Taxpayers with gross incomes of $60,000 a year or less would get $150 per taxpayer and $40 for each dependent under the governor’s plan. Those with incomes of more than $70,000 would get a rebate of $75 per taxpayer and $20 per dependent.