New Mexico Gubernatorial Candidate Proposes Four-Year Personal Income Tax Phase-Out
In New Mexico, Republican gubernatorial candidate Gregg Hull has unveiled a proposal to phase out the state's personal income tax over a four-year period as a strategy to tackle affordability concerns.
Albuquerque Santa Fe, NM, October 5, 2026 — Gregg Hull, a Republican candidate for governor in New Mexico, has put forward a plan to eliminate the state’s personal income tax. The proposal outlines a gradual phase-out of this tax over a four-year timeline.
The stated objective behind this initiative is to address and mitigate affordability issues currently faced by residents of New Mexico. By removing the personal income tax, Hull’s campaign suggests that individuals and families would retain more of their earnings, potentially easing financial burdens.
Details regarding the specific mechanisms or legislative steps required to implement such a phase-out over the proposed four-year period were not provided in the summary. Additionally, information concerning the projected economic impact of this tax policy change, potential revenue shortfalls for state services, or the candidate’s specific strategies for offsetting lost tax revenue was not detailed.
The proposal is presented as a core component of Hull’s broader economic platform aimed at improving the financial well-being of New Mexico’s citizens. The timeline of four years suggests a structured approach to tax reduction, allowing for potential adjustments and monitoring of fiscal effects.
Further information regarding the candidate’s specific plan, including how different income brackets might be affected, or any proposed alternative revenue streams, was not available in the provided summary.
Story summarized from the original created by Bela Olague on www.krqe.com, see more information here.
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