Enchantment State News

The first session of the 56th Legislature in New Mexico concluded late last month. It marked the return to a fully in-person format after several years of COVID-19 restrictions. NFIB New Mexico played an active role, achieving notable policy victories for small businesses throughout the state.

During the 60-day legislative session, over 1,294 bills, resolutions, and memorials were introduced. NFIB New Mexico worked diligently to oppose legislation that could impose new mandates on employers, create unreasonable regulations, and increase business costs in New Mexico.

Several proposed measures were defeated. These included a state-run paid family and medical leave funded by payroll and wage taxes; a $16 minimum wage with future increases tied to inflation; personal income tax hikes affecting small businesses set up as pass-thru entities; transportation fuel regulations increasing gas taxes; new private rights of action leading to predatory lawsuits against small business owners; and the removal of attorneys' fee caps in the Workers’ Compensation system that would have raised system costs and insurance premiums.

The House Taxation and Revenue Committee presented an omnibus tax package towards the end of the session. Initially, it proposed increases in personal income tax, reductions in capital gains deductions, and higher liquor taxes. However, after significant debate and lobbying by NFIB and other business groups, these elements were excluded from the final law.

NFIB expressed gratitude to its members for their advocacy efforts: "Your advocacy efforts created an impact." They encouraged continued engagement with elected officials: "Please continue to lend your voice to your elected officials thanking them for their service."

Looking ahead to 2024 when the legislature reconvenes, NFIB urged members to share perspectives on policy impacts: "Please help us bring your voice to the Roundhouse by sharing your valuable perspective regarding the real-world impacts of these policies."