Below is a letter I wrote to our governor and our local state reps on a bill that supports repealing, at least for most New Mexicans, the state tax on Social Security.
I ask for the paper’s support in getting the word out to our retirees so that they may contact their state representatives to repeal this double taxation.
Moving to New Mexico from my home state of Colorado last year, in preparing my first New Mexico State tax returns this year, I was in shock to find both my wife’s and my Social Security checks are taxable again. While, for all the retirees of New Mexico, I wish that the tax be repealed altogether, I do ask, for now, that you please support House Bill 19 on Social Security benefits for most New Mexico seniors.
I don’t have to tell you that New Mexico is one of only 13 states that tax Social Security benefits, and that taxing Social Security is a form of double taxation, that many seniors who worked all their lives and who would like to enjoy their retirement struggle to meet their other basic financial obligations, or that New Mexico now has the second-heaviest tax on Social Security benefits in the nation.
I also don’t have to tell you what House Bill 19 would do or that every dollar of Social Security income generates $1.71 in economic activity. So repealing the Social Security tax will generate local economic development that will create more jobs for New Mexico workers, especially in our retail, real estate and health-care industries.
In closing, being a retired government employee, I know to keep correspondence short and to-the-point so that it is read. Upon request I could explain why we moved to this very diverse state.
Please keep retirees in this beautiful state and help us to enjoy it.