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The latest on the Key Bridge collapse, New York puts forth legislation to get clean energy projects on the grid and Wisconsin and other states join a federal summer food program to help feed kids across the country.

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Republicans float conspiracy theories on the collapse of Baltimore's Key Bridge, South Carolina's congressional elections will use a map ruled unconstitutional, and the Senate schedules an impeachment trial for Homeland Secretary Mayorkas.

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Historic wildfires could create housing and health issues for rural Texans, a Kentucky program helps prison parolees start a new life, and descendants of Nicodemus, Kansas celebrate the Black settlers who journeyed across the 1870s plains seeking self-governance.

Report: NM Taxpayers Shouldering Burden Of Corporate Tax Cuts

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Tuesday, April 15, 2014   

SANTA FE, N.M. - A new report from New Mexico Voices for Children warns that taxpayers will shoulder the burden of the state's corporate income tax cuts. Gerry Bradley, senior researcher, Voices for Children, wrote "The Corporate Income Tax: A Declining but Essential Part of New Mexico State Revenues." He said lawmakers cutting the corporate income tax by about 25 percent in recent years has cost the state about $100 million in lost revenue.

"As the corporate income tax has been cut, that meant personal income taxpayers will end up paying more or it will be picked up through the sales tax," Bradley explained.

Bradley said the state lowers corporate taxes in hopes of attracting industry and investment to create new jobs and stimulate revenue. However, he pointed out, New Mexico's job growth remains among the nation's lowest, despite the tax incentives.

Bradley's report concluded that the state should restore the corporate income tax to previous levels, rather than putting the burden on working families.

The lost revenue may mean further cuts to the already underfunded education budget and other vital programs, Bradley warned.

"Programs such as health care, public education and higher education in New Mexico will have to be cut," he said.
"There's no way around it; it's either one or the other."

The state is just now returning to pre-recession revenue and funding levels for education and other programs, he noted.



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