House Bill 346, has also been introduced by Representative Stewart in the House. This bill provides the new funding needed through a combination of repeal or recent high earners tax cuts and a half percent increase in Gross Receipts Tax. Together the two methods will raise some $350 million for the school year beginning in 2010. Using the revenues form House Bill 346 and the new funding formula laid out in House Bill 331, there is sufficient revenue to meet the constitutional requirement to fund schools sufficiently.
House Bill 346 received its first public hearing last week in the House Taxation and Revenue Committee. This measure received a do-pass recommendation from the committee late Wednesday on a near-party-line vote. The measure now moves to the House Appropriations and Finance Committee. Let members of this Committee know that you support raising revenues to sufficiently fund public schools.
The vote in the House Taxation and Revenue Committee is presented below. Please let the members who voted yes know that you appreciate their support for raising revenues for sufficient funding for public schools.
|
Name |
Vote |
|
Edward C. Sandoval - (D) Chair |
Yes |
|
No | |
|
Yes | |
|
Yes | |
|
Yes | |
|
No | |
|
No | |
|
No | |
|
Yes | |
|
No | |
|
Yes | |
|
Yes | |
|
Yes | |
|
Yes | |
|
No | |
|
No |
Senator Cynthia Nava has also introduced a tax bill to provide sufficient funding for public schools. It is Senate Bill 412. This measure increases Gross Receipts Tax by .75% and will be heard first in the Senate Education Committee. Let members of this committee know that you support Senate Bill 412 and sufficient funding for public schools.
The Senate Finance Committee turned its Tuesday meeting into a seminar on tax policy in New MExico. This Committee seems to be inching toward the fact that our state budget cannot be balanced with cuts alone. We need to continue our message that new revenues must be found to sufficiently fund public schools.
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