New Mexico Senate passes economic relief legislation for families, small businesses

FARMINGTON — The New Mexico Senate passed multiple economic relief bills on Wednesday for families and small businesses hit hard by the COVID-19 pandemic and the subsequent restrictions, according to a press release.

“Small businesses have suffered under the endless public health orders with no reprieve from the Governor’s office,” New Mexico Senate Minority Leader Greg Baca, R-Belen, said in the press release. “Today’s vote to pass these relief bills is a step in the right direction as we work to provide resources to our small business owners and families whose livelihoods are hanging on by a thread.”

According to the press release, the relief proposals include a $600 income tax credit for low-income working families, gross receipts tax relief for certain food establishments, a liquor license fee waiver and interest-free small business loans.

The legislation, known as Senate Bills 1, 2 and 3, will advance to the New Mexico House of Representatives for consideration.

“These bills are not perfect by any means, but we did what we could to make the relief both targeted and efficient,” Sen. William Burt, R-Alamogordo, said in the press release. “Too many New Mexicans have lost their jobs and too many local businesses are still suffering to survive. The least we can do is give them a glimmer of hope, and I believe we did that today.”

Matt Hollinshead covers sports and business for the Farmington Daily Times. He can be reached at 505-564-4577 and on Twitter at @MattH_717.

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