Santa Fe, NM — In today's Senate Finance Committee (SFC) hearing, House Bill 11 failed on a (8-3) vote. This proposal represented the largest mandated tax increase on employees and employers in state history. Despite progressive leadership's best efforts, which included taking out moderate Democrats in the previous election cycle, Senate Republicans successfully defended small businesses, employees, and industries throughout the state.
The Republican members of the Senate Finance Committee –Senators Pat Woods, Craig Brandt, Steve Lanier, and Nicole Tobiassen– have issued the following joint statement in response:
"Every New Mexico small business owner, employer, industry leader, and employee can breathe a sigh of relief following today's vote. Progressive Democrat policies such as House Bill 11 would have destroyed our state's economy and discouraged economic development in New Mexico. Stopping this dangerous bill was of highest priority for Senate Republicans; today, common sense prevailed. We will continue to stand united in opposition to progressive policies such as House Bill 11 while fighting for the real results New Mexicans need."
