Vote Comes after Democrats Pass Largest Tax Increase in State History
Santa Fe – House Democrats voted 41-24 in the middle of the night to ensure more New Mexico tax dollars go to Hollywood corporations, even those which pay no taxes in New Mexico. Senate Bill 2 would raise the cap on the amount of money New Mexico sends to Hollywood every year, and in some cases, eliminate the cap altogether. The new yearly amount paid by taxpayers would go from $50 million to $110 million with additional money used to pay movie companies more quickly. The vote comes after House Democrats voted on a record tax increase of nearly $600 million.
“Our priority should be our schools, our roads and our communities,” said Rep. Jim Townsend (R-Artesia.) “These productions mostly benefit small areas of the state while leaving all New Mexicans on the hook for the bill. We have other priorities to address before Hollywood.”
Currently, the liability owed to Hollywood exceeds $300 million because of no oversight. Yet Senate Bill 2 proposes a similar process to send more taxpayer dollars to Hollywood.
The bill now heads to the Governor who has advocated paying more money to Hollywood.