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A Billion-Dollar Windfall, Who Benefits? | Community Forum
With oil prices pushed up by the war with Iran, New Mexico is sitting on nearly a billion dollars in unexpected oil and gas revenue, and Paul Gessing, president of the Rio Grande Foundation, predicts that pot will top $1 billion by the time the 2027 legislative session opens in January. He joins Johnny Chandler on this Community Forum to argue that the money should go back to New Mexicans, noting it’s roughly half of the $2.1 billion the personal income tax brings in each year.
Gessing lays out a phased, trigger-based plan to eliminate the income tax, explains why he thinks the state’s $75…
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