Gregg Hull proposes plan to eliminate personal income tax in New Mexico

Republican gubernatorial candidate Gregg Hull launched a plan in New Mexico to phase out individual earnings taxes over four years. The policy aims to provide immediate financial relief to residents across the state. Hull called the policy low-hanging fruit.

“I’m here to say that the people who earn the money deserve to keep more of it,” Hull said.

The proposal is called Four Steps to Zero. It applies only to individual earnings. The policy continues to tax business profits.

Each phase decreases or ends taxes for residents by bracket. The plan prioritizes the lowest-income households first.

Hull said checks would ensure the state can afford each step without cutting services. The state legislature must approve the proposal.

“No tax increase to pay for a tax cut, no raid on the permanent fund, no cuts to classrooms, healthcare, or public safety to make the math work. Every refundable credit that working families and seniors count on today stays in place.”

Earlier this year, Governor Michelle Lujan Grisham suggested a $250 rebate for every New Mexico taxpayer. That idea drew calls from some lawmakers for a permanent tax-relief solution.

“Permanent relief has to be paid with permanent revenue,” Hull said. “Anything else is a promise you can’t keep.”

Democratic candidate Deb Haaland responded with a written statement outlining her economic platform. She declined an on-camera interview.

“My plan focuses on putting money back into the pockets of working class New Mexicans and those who need relief the most by expanding the Working Families Tax Credit and the Child Tax Credit, and increasing the minimum wage. My opponent is employing the Trump playbook under the guise of helping everyone, but in the end, it’s really meant to help the rich get richer.”

Haaland said former President Donald Trump previously lied to voters. She said her opponent’s plan will make things worse.

Gubernatorial candidates routinely release fiscal platforms before a general election. State revenue changes require statutory adjustments passed by state lawmakers.

Early voting in New Mexico begins on Tuesday. Election Day is on November 3.