Regional
3:37 pm
Tue January 15, 2013

Governor Martinez Pushes Tax Cuts To Start Session

Credit Office of the Governor

New Mexico Gov. Susana Martinez is urging state lawmakers to spend "surplus tax dollars wisely" and approve a package of tax cuts to offset uncertainly in Washington, D.C.

Martinez told state lawmakers Tuesday in her State of the State address that diversifying that state's economy was needed in order to protect New Mexico from a "dysfunctional" federal government.

The governor asked the Legislature to approve a reduction in the corporate income tax rate, as well as other economic development incentives to make New Mexico more competitive with neighboring states in recruiting and retaining private businesses.

Martinez and lawmakers agree that New Mexico needs to start diversifying what has long been an economy that heavily depends on government spending, including military installations as well as Los Alamos and Sandia national laboratories.

Copyright 2013 The Associated Press.