The New Mexico Legislative Assembly adopted a bill that would provide new Mexicans $ 500 checks in two payments coming over the next few months.
The bill comes to alleviate the pain of high gas prices.
According to AAAgas prices rose globally, and in New Mexico the average gas price is $ 4.14 pr. gallonrepresenting one increase of $ 1.29 from last year.
Lawmakers met last Tuesday to decide the best way to send the money to New Mexico residents.
They all decided to grant $ 677 million in income tax revenue over the next two fiscal years, returning it to taxpayers as a rebate.
New Mexicans there already filed or will file their tax return for 2021 will get 500 USD as individual files or $ 1,000 if they apply jointly.
New Mexican lawmakers decided to file the first payment May or June. The rest come in September.
All new Mexicans who filed online and delivered theirs bank account informationreceives the discount checks as one direct deposit.
The rest will receive their payments with a check by mail.
“Over the last three years, we’ve had more tax reforms for the benefit of business and taxpayers than in the previous decade.” Lujan Grisham claimed during a press conference.
Additional news for low- and middle-income families
After New Mexico legislation confirmed the controls, there was additional legislation for low- and middle-income families.
All new Mexicans serving separately less than $ 75,000 a year or $ 150,000 in total, will get one additional discount check coming in the next few months sponsored by the package adopted during the legislative session.
The extra wave of controls will be $ 250 for individual files and 500 USD for joint applicants.
“That was the goal – to give money back to the people who pay taxes,” said Senator William Sharer.