Corporate taxes and teen curfews

http://joemonahansnewmexico.blogspot.com/

Friday, August 21, 2015

It was 2013 when the legislative Dems caved to Gov. Martinez and approved a controversial corporate income tax. The Dems went on to lose the House in ’14 to the R’s for the first time in 60 years. In a little noticed section of the latest state revenue report we learn just how far off Santa Fe was back then in estimating the cost of that corporate cut:

House Bill 641 made several changes to the corporate income tax code. The fiscal impact report initially estimated that the changes would result in a revenue loss of $7.2 million in FY14. However, actual revenue in that fiscal year missed its forecast by more than the estimated $7.2 million cost. In FY14, net corporate income tax revenue was subject to a six- month forecast error of $82.2 million (41.8 percent), and an 18-month error of $143.4 million (72.2 percent).

That’s a lot of revenue out the door, sports fans…

Thursday, August 20, 2015

The sensational crimes this summer involving teens has prompted Gov. Martinez to announce that she will ask the Legislature in January to give cities the power to implement teen curfews, even though a previous ABQ curfew in the 90’s was found unconstitutional…

ABQ Dem State Rep. Javier Martinez seems ready to lead the opposition to a teen curfew. He writes:

…A curfew is unenforceable. APD is a mess, without enough officers and a litany of questions regarding its internal procedures. A curfew is also ineffective and simply criminalizes young people. Young people are the solution, not the problem.

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