STATE News:
Santa Fe — The first of many bills aimed at helping New Mexico workers and small businesses hit by the COVID-19 pandemic was heard Tuesday in the Senate Tax, Business & Transportation Committee.
Senate Bill 1 (Sponsored by Senators Peter Wirth, Jacob Candelaria, and Siah Correa Hemphill) creates a new $600 income tax credit for individuals earning up to $31,200 who claim the working families tax credit. It also establishes a new GRT deduction for certain food service establishments for the period between March 1, 2021 through June 20, 2021.
“Working families, particularly the essential workers who have been putting their very lives on the line to keep our state going during this pandemic, need assistance,” Sen. Candelaria said. “This income tax credit will provide important economic support to those hard-working New Mexicans who have been helping all of us manage through an incredibly difficult time.”
“Small businesses are a cornerstone of our economy here in New Mexico. And many of our food establishments have been squeezing by on take-out and limited services,” Sen. Correa Hemphill said. “The temporary GRT deduction provisions in this bill will help our restaurants, food trucks, craft distilleries, small breweries and wineries make up for lost revenues and serve as an economic bridge to recovery.”
Senate Bill 2 (Sponsored by Senators Liz Stefanics, Jacob Candelaria and Brenda G. McKenna) waives the fees for all liquor licenses issued by the Alcoholic Beverage Control Division of the Regulation and Licensing Department for the 2021 calendar year.
“Everything we can do to help our businesses recover from this economically devastating period should be on the table. Waiving the annual liquor license fees is one such measure,” said Senate Majority Leader Peter Wirth (D-Santa Fe). “I think it’s also very fair to these businesses given that many have been limited in providing the services the licenses give them due to the COVID-19 pandemic. I am proud to be co-sponsoring this bill and help offer this much needed relief.
“One of our top priorities is economic recovery for small businesses and the hardworking New Mexicans who have been hit particularly hard in the last year “The bills being heard today are the first of many aimed at getting people the help they need, and soon.”
Due to health and safety concerns, session committee meetings will be held virtually and can be viewed at nmlegis.gov (under “Webcast”). Committee Schedules are posted under the “What’s Happening” tab.
