NM official: Tax package saved jobs

Posted at: 05/18/2013 2:30 PM
By: The Associated Press

 The head of the New Mexico Economic Development Department says a massive tax package passed by lawmakers in the final days of the legislative session is having a positive effect on jobs.

Secretary Jon Barela says that in addition to saving roughly 1,500 jobs, about 200 jobs are expected to be created in the next several months in response to the tax package.

Barela made the comments Friday during a legislative hearing in Santa Fe as debate over the measure continues to simmer.

The package cuts the state's corporate income tax rate to 5.9 percent.

It also included an expansion of the film tax credit for qualifying television shows filmed in New Mexico.

Sen. Jacob Candelaria, an Albuquerque Democrat, tells the Albuquerque Journal  that he's skeptical of the job retention claims.