In the final week of the 2023 session, legislators are working on ways to take more money out of the pockets of working New Mexicans along with businesses owned and operated in the state. Senate Bill 11 and a sweeping Tax Bill that will impact New Mexicans.
Senate Bill 11 – Paid Family Leave Act
This bill autorizes Workforce Solutions the ability to withhold $5 from each employee’s paycheck for each $1000 in earned during the year and $4 from each business for every $1000 in payroll.
The PROBLEM? The fund for SB 11 is wholly paid for by employees and businesses, NOT state or federal government. This means that there is a significant shortfall in revenue within 2 years. Guess who pays for the shortfall? Every working New Mexican! The passage of this SB11 gives the Secretary of Workforce Solutions the ability to raise taxes without any checks or balances to ensure the fund is solvent. Legislative Finance (LFC) has already reviewed this plan and expects it to be over $516 Million in the hole within 4 years. If this passes New Mexicans should be prepared to see much more than $5 per $1000 earned and more like $20 or $30 per $1000. Don’t give the State the ability to take an unlimited amount of funds from you. This is another “Pass The Bill and The State Will Figure Out the Cost Later.”
SB 11 Is expected to be heard Friday at 1:30pm in the House Commerce & Economic Development Committee. Please call and email your representative below or attend the committee hearing and ask them to vote NO or table the bill for further discussion and financial review on how to pay for this program.
Representative Doreen Y. Gallegos D Dona Ana County – Chair
Representative Linda Serrato D Santa Fe County – Vice Chair
Representative Joshua N. Hernandez R Sandoval County
Representative Janelle Anyanonu D Bernalillo County
Representative Derrick J. Lente D Sandoval County
Representative Charlotte Little D Bernalillo County
Representative Alan T. Martinez R Sandoval County
Representative Marian Matthews D Bernalillo County