Senator Steven McCutcheon II introduces legislation to bring lost revenue back to southeast New Mexico
SANTA FE—This week, Senator Steven McCutcheon II (R-Carlsbad) used his inaugural legislation to bring funds back to southeast New Mexico in response to destination-sourcing changes to the state’s tax code. Senate Bill 100 and Senate Bill 155 are appropriations made to Hobbs and Carlsbad for $25 million each. Together they mirror legislation previously sponsored by former Senator Gay Kernan.
Following the introduction of the bills, Senator McCutcheon introduced the following statement:
“Our energy industry in Lea and Eddy Counties are the engine of New Mexico’s economy. This is about doing what is right—supporting the families and communities who support New Mexico. These bills are just the first step to properly recognize the contribution of the oil and gas industry to the state of New Mexico.”