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Saving Money for Families and Businesses

Saving Money for Families and Businesses

Michelle believes that as governor, the most important aspect of her job is making sure New Mexicans have what they need to thrive. That’s why Michelle has delivered for New Mexico’s families and businesses—putting money directly into their pockets and addressing the issues they care about most. From cutting the state Gross Receipts tax and the Social Security tax, to passing tax credits for New Mexico’s middle class, to lowering the cost of everyday needs like prescription drugs and child care, Michelle is saving money for every New Mexican.

Michelle is making a difference by making sure that families prosper. Michelle cut taxes for New Mexico’s middle class in one of the most comprehensive tax overhauls in the country, putting money in the pockets of more than 550,000 New Mexican families. Michelle is leading the ​​way with the most significant and progressive reform of the tax code in a generation, creating meaningful change for average New Mexicans.

  • Cut taxes for 550,000 working families
  • Cut the GRT, saving money for businesses
  • Cut taxes on social security, helping New Mexico’s seniors
  • Lowered everyday costs from prescriptions drugs to childcare

saving money for families and businesses

Michelle isn’t just helping families–she also cut taxes for every single New Mexican and New Mexico business. This year, Michelle brought Republicans and Democrats together to implement the first Gross Receipts Tax cut in 40 years, saving New Mexicans $195 million in the first year alone. She also signed legislation repealing most Social Security taxes to get relief straight to New Mexico’s seniors, saving them an average of $730 per year.

Making sure New Mexicans feel relief and can thrive is about more than tax cuts– it’s also about making everyday items and services affordable. That’s why Michelle raised New Mexico’s minimum wage for the first time in a decade and guaranteed paid sick leave for all New Mexican workers – so no New Mexican would ever have to quit their jobs due to a medical emergency. She also cut the cost of prescription drugs, reduced premiums, and eliminated copays for behavioral health. Michelle also implemented universal pre-k and ensured every New Mexican who wants to go to college or a certificate training program can do so – for free. Michelle even helped families in need cover their utility bills by getting homeowners the assistance they need Michelle is helping all New Mexicans grow right here in our state.

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