Governor announces a plan to deliver economic relief to New Mexican taxpayers of up to $1,500 in rebates. In a news release on Wednesday, January 25th, Governor Lujan Grisham announced her plan to distribute economic relief with the introduction of legislation that will issue a one-time rebate to about 875,000 New Mexico taxpayers. Senate Bill 10 will distribute one billion dollars in household relief through $750 payments to individual taxpayers and $1,500 to those filing jointly. Payments to taxpayers will be distributed by the Taxation and Revenue Department this summer. Governor Lujan Grisham said that New Mexico has seen good results from targeted investments and she is working with the Legislature to put more money back in the hands of New Mexico residents.
The IRS says to expect smaller federal tax refunds this year. According to a report posted on “The Hill” smaller tax returns this year are due to pandemic relief measures that have expired. Millions received stimulus payments which were effectively given as a tax refund, but no stimulus was given in 2022. Additionally, expanded child tax credit (CTC) was received and that was allowed to expire at the end of 2021. The IRS reported in a news release that due to tax law changes such as the elimination of the Advance Child Tax Credit and no Recovery Rebate Credit in 2022, taxpayers may find their returns much lower this year.
For our Hidalgo County Listeners…
R.V. Taylor Elementary School students enjoyed an informative visit from Lordsburg Chief of Police Aaron Salazar and LPD Officer Kedrin Sheppard this past Monday. Ms. Diaz and Ms. Stewart’s Life Skills Enrichment Class had the privilege to hear a discussion on the life skills that may require the involvement from law enforcement. Moreover, the children were provided details of the necessary information they must relay to police dispatch in the event they have to call 911.