Gregg Hull proposes phasing out New Mexico income tax

Hull’s proposal

Republican gubernatorial nominee Gregg Hull announced a plan to phase out New Mexico’s income tax. “Phase out” means ending the tax in steps rather than eliminating it all at once. The announcement puts tax policy at the center of Hull’s message on the economy and jobs. It does not, by itself, change New Mexico tax law or establish a timetable for a change.

The proposal concerns both taxpayers and the state revenue associated with the income tax. Its practical effect would depend on the sequence and size of any reductions, the date each step would begin, and whether the plan includes conditions for moving from one stage to the next. Those choices would determine how quickly a phaseout proceeds.

Questions for the policy process

Voters can look for a written proposal explaining the schedule, the tax rates covered and the method for carrying out each stage. Another central question is how the plan would address state programs and obligations supported by existing revenue. Details on spending changes, replacement revenue or other offsets would show how Hull proposes to carry out the reduction alongside those commitments.

The next procedural question is whether the announcement becomes a formal policy proposal with legislative language or another method of implementation. Public review would allow voters and state officials to examine its timeline, fiscal assumptions and effects. The announcement establishes Hull’s goal of gradually ending the income tax, while the structure of that phaseout remains to be set.