Oct 16, 2026 · 33 min · 11 segments
Paul Gessing joins the Morning Show with Bob Clark to discuss public safety, thecorrect Grover, the upcoming election, and much more. See omnystudio.com/listener…
Paul GessingGuestBob ClarkHostAnd Greg Hall, we knew and he has talked during the campaign, during the primary and leading up to the general election campaign, the idea of eliminating our state income tax here in New Mexico.
But he provided a lot of detail in terms of how he's going to go about doing that if he becomes the next governor.
Yeah, well, before I get into the plan, it's worth noting, of course, that Hull will go into this if he's elected with no less than a billion dollars available.
I would estimate it, by the session kicking off, $1.25 billion available in additional surplus revenue.
So we have ample revenues flowing into the state, but starting in year one, Greg's plan would be to take $25,000 and below for single filers and $50,000 for married couples, nothing taxable below that level.
And then step two, upping that to $50,000 for single filers, $100,000 for joint filers.
And then step four is all remaining eligible personal income tax would be eliminated.
It's a progressive plan in the sense that it helps the lower level, lower incomes first.
Everybody would benefit immediately because everybody pays taxes at those lower rates before the bigger rates kick in.
And the other thing, too, is that there are some guardrails involved in the plan in case there is a sudden just enormous drop in oil prices and revenue.
It wouldn't stop the process toward moving to eliminate the state income tax, but it could slow it down depending on revenues.
But, I mean, there's certainly no sign of that happening anytime in the near future.
And while Greg, I've heard him talk about his plan and including on the non-debate debate that happened on KOB TV, he understands that you can't hang your hat on additional revenue coming in as you reduce taxes.
You've got to assume that things can happen with the oil and gas industry and the prices.
And Greg Hall, we knew and he has talked during the campaign, during the primary and leading up to the general election campaign, the idea of eliminating our state income tax here in New Mexico.
But he provided a lot of detail in terms of how he's going to go about doing that if he becomes the next governor.
Yeah, well, before I get into the plan, it's worth noting, of course, that Hull will go into this if he's elected with no less than a billion dollars available.
I would estimate it, by the session kicking off, $1.25 billion available in additional surplus revenue.
So we have ample revenues flowing into the state, but starting in year one, Greg's plan would be to take $25,000 and below for single filers and $50,000 for married couples, nothing taxable below that level.
And then step two, upping that to $50,000 for single filers, $100,000 for joint filers.
And then step four is all remaining eligible personal income tax would be eliminated.
It's a progressive plan in the sense that it helps the lower level, lower incomes first.
Everybody would benefit immediately because everybody pays taxes at those lower rates before the bigger rates kick in.
And the other thing, too, is that there are some guardrails involved in the plan in case there is a sudden just enormous drop in oil prices and revenue.
It wouldn't stop the process toward moving to eliminate the state income tax, but it could slow it down depending on revenues.
But, I mean, there's certainly no sign of that happening anytime in the near future.
And while Greg, I've heard him talk about his plan and including on the non-debate debate that happened on KOB TV, he understands that you can't hang your hat on additional revenue coming in as you reduce taxes.
You've got to assume that things can happen with the oil and gas industry and the prices.
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