During New Mexico’s legislative session, lawmakers passed Senate Bill 151, which includes a major tax increase on New Mexico businesses.

The bill disconnects the state from key federal tax provisions that allow businesses to deduct investments in equipment, facilities, and manufacturing. That means higher state taxes for businesses that invest and grow here.

According to the New Mexico Taxation and Revenue Department, this would raise more than $100 million per year in new taxes on New Mexico businesses by FY28.

Small businesses are already facing rising costs and economic uncertainty. Now is not the time to make it more expensive to expand or create jobs.

Because SB 151 includes an appropriation, the Governor has the authority to line-item veto the tax increase.

Take action today and tell the Governor to line-item veto the tax increase in SB 151.