Tax Foundation Ranks NM as One of Most "Tax-Friendly" States in

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Governor Announces Drop in Unemployment Rate—NM full point below national average

New Mexico was ranked as in the top tier of most "tax-friendly" states with
one of the lightest state and local tax-burdens in the country, according to according to an annual report published by the Tax Foundation, a nonprofit fiscal policy research group.

(Source CNN/Money 04.04.07) In the last three years New Mexico has moved up 11 spots from twenty-second lightest tax burden to eleventh. Governor Richardson has cut taxes to support middle class families and to help build a clean economy. He's also eliminated taxes on active-duty military pay and cut over $1 billion in taxes.

Governor Richardson today also announced new federal Labor Department statistics that show New Mexico's strong, broad-based economy continues to grow. New Mexico's unemployment rate has dropped to 3.5 percent and now is a full point below the national average of 4.5 percent. New Mexico's unemployment rate is at its lowest level since 1976.

"By keeping taxes low, by investing into new clean industries, by building a better educated and skilled workforce, New Mexico's economy is growing and our unemployment rate is dropping," said Governor Richardson. "While Washington remains stuck in gridlock, I am pleased that New Mexico continues creating new jobs in every economic sector."

Under Governor Richardson's leadership 16,300 new jobs were created during the past year and New Mexico's job growth is 12th in the nation. The job growth rate remains at a steady 2.0 percent and 84,000 jobs have been added to the workforce since 2003.
Source: http://money.cnn.com/galleries/2007/pf/0704/gallery.tax_friendliest/8.html

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