New Mexico’s poverty rate drops by putting people before corporate profits

For several years, New Mexico has made substantial changes to their tax code and revenue systems and instituted family-centered policies like an expanded state Earned Income Tax Credit, a Child Tax Credit, and free early childhood education that are being supported by increased revenues from high-income earners, capital gains taxes, and multi-state corporations.  

Thanks to advocates and tax justice champions in the legislature, their hard work is making New Mexico a better place to raise a family and bringing opportunities to the Land of Enchantment.

State Revenue Alliance Executive Director (and New Mexico’s own), Amber Wallin reacted to a recent report that poverty fell more than a third in New Mexico due to tax changes, more than almost any other state.

She said, “We’ve long-known that tax policy has a critical role to play in building economic opportunity, supporting racial and gender justice, and ensuring robust funding for the programs that matter most to kids and families. New Mexico’s tax improvements since 2019 show what can be done when the tax movement is aligned and how that can lead to direct and tangible improvements in the lives of residents.” 

Other notable milestones on the way to tax justice in New Mexico include:

  • New Mexico went from one of the most regressive state tax codes to one of the most progressive in less than 10 years. It was 33rd most progressive in 2015 and 8th on ITEP’s 2023 inequality index.

  • New Mexico’s combined legislature membership is majority female, one of two states to hold this achievement, and the largest female-majority of any state legislature in history.

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SRA’s Amber Wallin shares the states’ perspective on the 2025 national tax fight in Bloomberg, Tax Notes and other outlets