New Mexico in Focus; 611; Richardon's Tax Plan

SRT Captions File Generated by MXFplus >> Dan: TAX CUTS ARE MOVING

WILL YOU SEE ANY OF THE MONEY? ARE TAX CUTS THE RIGHT THING TAX CUT PROS AND CONS ... NEXT >> Dan: AT TIMES THE CURRENT REVEREND RICHARDSON IS TO AN ALREADY CONVERTED REPUBLICANS, COMPLIANT THE FAITHFUL BELIEVE TAX CUTS UNBELIEVES WARN OVERZEALOUS THE HEAD APOSTLE RICK HOMANS, THE GOVERNOR'S HE JOINS US NOW FROM SANTA FE. >> Dan: WELCOME, RICK HOMANS, >> Rick: DAN, GOOD TO BE HERE. SORRY I DON'T HAVE MY WHITE >> Dan: YOU'RE THE POINT MAN

AND ALREADY THERE IS SOME BUT LET'S GO OVER THE BASICS. HOW MUCH IN TAXES DO YOU WANT >> Rick: THE TWO PRIMARY TAX TAX, WHICH IS RIGHT NOW IT WILL GO TO 7.7% AND THE CAPITAL GAINS TAX, AND THERE ARE TWO AT THE FEDERAL LEVEL, WHEN ABOUT A TAX CUT, HE IS TALKING WE'RE TALKING ABOUT A TAX CUT COMPETITIVE WITH OTHER STATES YOU CAN'T GO OUT AND PITCH THAT OFFERS HIGH-WAGE JOBS, THAT'S WHAT THIS IS ABOUT. BUT NUMBER TWO, IT'S NOT JUST IT IS THE TAX INCENTIVES.

IT IS THE MARKETING BUDGET IT IS THE TRAINING DOLLARS AND IT IS THE ENDOWED CHAIRS ALL THIS TOGETHER WILL MAKE >> Dan: THE FOLKS OUT WATCHING ENDOWED CHAIRS ARE A GOOD >> Rick: WHAT IT MEANS TO THEM ON BUILDING AN ECONOMY HERE BUILT ON OUR STRENGTHS AND THAT'S GOING TO CREATE IS A PIECE OF THE PUZZLE THAT OF ECONOMY THAT WILL PROVIDE >> Dan: YOU HAVE SAID THAT I GUESS TRANSLATE THAT TO SOME BUSINESSMAN, BRINGING >> Rick: YOU'VE GOT COLORADO YOU HAVE TEXAS AND NEVADA THAT

IT IS DIFFICULT TO COMPETE BUT WE'VE AT LEAST GOT TO GET THE GOVERNOR AND I WERE JUST WE MET INDIVIDUALLY WITH 30 AND WHEN WE TOLD THEM THEY WERE VERY INTERESTED THE KIND OF COMPANIES BUT THEY CAN'T TURN WE ARE GOING TO BRING GOING TO RELOCATE TO NEW THAT DOESN'T WASH. IT DOESN'T >> Dan: FAIR ENOUGH. AT THE HIGH INCOME LEVELS, AND BUILD PLANTS AND HIRE >> Rick: SURE. >> Dan: BUT WHAT DOES WHY SHOULD HE OR SHE BE >> Rick: BECAUSE IF WE CAN INCREASE OUR PER CAPITA

BUT MOST IMPORTANTLY, IT OPPORTUNITIES FOR THE AVERAGE AND TO STAY HERE IN NEW MEXICO WE HAVE GOT TO DO THAT. WHEN WE INCREASE THE PER US THE RESOURCES TO DEAL WE ARE A POOR STATE. AND WE WILL ONLY STAY POOR AND ATTRACT THESE NEW KIND >> Dan: BUT FOR THE TAX BILL, ABOUT, WHAT ARE WE LOOKING >> Rick: I THINK THIS DOWN, BUT IT WILL AFFECT THAT'S ABOUT 15% OF THE PEOPLE AND IT WILL, IN THE FIRST OVER THE FOUR-YEAR PERIOD,

>> Dan: NOW, SENATOR ARAGON -- IF I KNOW SENATOR ARAGON, GENEROUS TO THE LOW-END WHAT'S YOUR RESPONSE? >> Rick: THE PURPOSE OF THIS TO ATTRACT HIGH-WAGE JOBS AND WE FEEL LIKE THIS IS IS TO TARGET THE POINT IT STICKS OUT LIKE A SORE WE HAVE GOT TO MAKE THAT >> Dan: FAIR ENOUGH. RICK HOMANS, SECRETARY DEVELOPMENT, THANKS >> Rick: THANK YOU, DAN. >> Dan: CONTINUING CHAIR OF THE HOUSE COMMITTEE, AND A SKEPTIC

HE JOINS US FROM SANTA FE. AND BRIAN McDONALD, ECONOMIST OF THE BUREAU OF BUSINESS ALSO FROM SANTA FE IS AND IN ALBUQUERQUE, ROBERT >> Dan: THANK YOU ALL REPRESENTATIVE COLL, FIRST YOU'RE SKEPTICAL OF TAX PLAN >> Rep. Coll: I'M NOT TOTALLY I DO THINK WE NEED TO CUT I THINK THAT WOULD BE A GOOD OF THESE COMPANIES THAT ARE BECAUSE IT WOULD AFFECT THEM >> Dan: MAX COLL, LIBERAL AGREEING WITH GEORGE BUSH THAT THAT'S PRETTY RARE, I THINK.

>> Rep. Coll: WELL, LET ME GET I THINK THAT THE REAGAN WE USED THAT FOR THE BIG TAX AND WE RAN THE HIGHEST SO I THINK THAT ONE DIDN'T BUT WE DO NEED TO GIVE BREAKS THOSE TOP TWO BRACKETS ARE TOO THAT WILL HELP ATTRACT PEOPLE I WILL AGREE WITH THAT. THE REST OF IT, I THINK THE GOVERNOR'S PLAN VERY AND GET AN IDEA OF WHETHER WE DON'T NEED TO DO IT ALL OUT >> Dan: BRIAN McDONALD, YOU'VE FOR THE STATE OF NEW MEXICO WHAT DO YOU THINK ABOUT THIS IF WE CUT TAXES, THAT WE ARE THE SPARK OF ECONOMIC

>> Brian: I DON'T THINK IT THERE WILL BE A LAG BETWEEN THE TAX BASE THROUGH SO I THINK YOU'RE GOING TO SEE AND THEN WHETHER OR NOT THESE TO HAVE A SUPPLY SIDE EFFECT >> Dan: DOESN'T THAT RAISE A DANGER OF NOT BEING ABLE IF THE SPARK DOESN'T HAPPEN >> Brian: THERE IS THAT RISK, BUT I THINK THE FIRST COUPLE >> Dan: SENATOR BEFFORT, MAX AND BRIAN McDONALD IS WORRIED ARE YOU LEADING US TO RUIN? >> Sen. Beffort: OF COURSE, I CERTAINLY UNDERSTAND BUT WHAT I SEE THAT WE ARE

WE WANT YOUR JOBS, PLEASE COME PAY OUR PEOPLE, ALLOW IT IS JUST A VERY EXCITING FOR THOSE EXISTING EMPLOYERS, IF YOU ARE NOT INCORPORATED, WHAT MOST OF THE EMPLOYERS ARE PLEASE RAISE YOUR SALARIES SO, TO ME, IT'S A PERCEPTION, WE SOMEWHAT HAVE A LUXURY THAT SO WHY DON'T WE TAKE ADVANTAGE TO GET CREATIVE AND TO GET >> Dan: A GOOD STRATEGIC PLAN,

MEXICO AS THE PLACE TO BRING BUT SENATOR, THERE IS THIS DO YOU REALLY BELIEVE THAT OR $50 MILLION IN ONE TAX YOU COULD BE THE ARCHITECT >> Sen. Beffort: OF COURSE, WE ARE GOING TO HAVE IS OUR OVERHEAD IS EXPANDING. OUR MEDICAID, AS WE HAVE ALL ONE OF THE THINGS THAT I AM THE AGENCIES HAVE BEEN WE ARE LOOKING AT THAT SIDE. AND THE INVESTMENT IS IF WE START LOOKING AT WAYS WHILE BEING ABLE THE MESSAGE THAT NEW MEXICO IS

WHAT I'D LIKE TO DO IS TO GO AS THEY HAVE AN INCOME TAX WE WILL TREAT YOU WELL, COME >> Rep. Coll: LET ME GET >> Dan: REPRESENTATIVE COLL, >> Rep. Coll: WE HAVE THE VERY ON HEALTH INSURANCE IN NEW THAT DOESN'T MAKE SENSE. WE OUGHT TO BE TRYING TO GET WE HAVE ABOUT A FOURTH WE OUGHT TO BE TRYING TO GET AND I DON'T WANT TO TAKE I WILL, HOWEVER, SUPPORT THOSE I THINK THAT'S A GOOD PIECE >> Dan: LET ME BRING IN ROBERT

YOU'VE BEEN WATCHING TAX YOU'VE REPRESENTED MINING, WHAT DO YOU SEE? WHAT'S THE REACTION AMONG CONSIDERS ITSELF A THIRD HOUSE >> Robert: I ALSO REPRESENT WE SAW WHAT THAT TAX CUT DID. IMMEDIATELY IT PRODUCED THREE THE ONE THING THAT I THINK THAT THE GOVERNOR'S ECONOMIC THIS IS NOT A CONVERSATION EVERYBODY'S INVOLVED IN THIS, FROM THE STANDPOINT THE LOBBYISTS THAT REPRESENT THEY WOULD LIKE SOME HOLD

I BELIEVE WITH THE LEADERSHIP HIS ADMINISTRATION, PEOPLE THEY ARE GOING TO MAKE SURE BECAUSE MORE THAN ANYTHING GO TO SANTA FE DURING WE HAVE A GOVERNOR THAT WANTS SOMETHING GOOD IS GOING >> Dan: BRIAN McDONALD, LET ME YOU ARE THE GUY THAT DID YOU WOULD ACTUALLY LIKE DO WE HAVE THE MONEY TO CUT >> Brian: I THINK WE HAVE I THINK THE ESTIMATE IS, IT THERE IS ABOUT $115 MILLION I THINK THE FIRST STEP BUT IT IS REALLY, WHEN YOU GO ON THE TOP BRACKET, YOU'RE

>> Dan: THAT'S SERIOUS MONEY. >> Brian: PARTICULARLY THIS $300 MILLION, PUTTING IT >> Dan: REPRESENTATIVE COLL, THERE ARE SOME DOUBTS THAT WHEN YOU SAY GO SLOW, WHERE DO >> Rep. Coll: WELL, WE NEED WE NEED TO APPROPRIATE NO MORE WE ARE WORKING REAL HARD WE HAVE, WHERE WE CAN WE WANT TO DEDICATE TO A TAX IF WE TRY TO LOOK AROUND THE CURVATURE THREE OR FOUR YEARS OUT I'LL GUARANTEE YOU THAT >> Dan: YOU'RE THE GUY

I'LL PUT YOU ON THE SPOT. WHAT DO YOU SAY TO PEOPLE WHO SINCE THE CAMPAIGN, >> Rep. Coll: IT WON'T HAPPEN IT WILL ONLY HAPPEN, THE FOURTH YEAR, IF WE GO WE NEED TO TAKE IT ONE STEP SEE IF IT IS WORKING. >> Robert: REGARDLESS OF WHEN WE ARE TALKING ABOUT IT THAT'S A MAJOR POINT. AND THAT'S WHAT'S GOING >> Dan: REPRESENTATIVE WILSON, OR NOT -- I THINK WHILE YOU'RE PROMISING PEOPLE >> Sen. Beffort: WELL, AGAIN,

THE MESSAGE THAT WE ARE TRYING CITIZENS, BUT TO ALURE TO TAKE OUT AND BRING WE HAVE A PLAN TO BRING I CAN REMEMBER SEVERAL YEARS BUT WE DIDN'T FOLLOW UP ON IT, SURFACED THROUGH OUR GAS SO THE PERCEPTION HAS TO BE AND TO OUR EMPLOYERS OUR ECONOMY HAS BEEN STAGNANT >> Dan: BRIAN McDONALD, >> Brian: UNFORTUNATELY, I MEAN, OUR PREVIOUS GOVERNOR >> Dan: ARE WE A HIGH TAX >> Brian: I THINK THE TRUTH I THINK AT THE UPPER BRACKET

WE HAVE ONE OF THE HIGHEST IN THE REGION, ALTHOUGH IT IMPORTANT TO NOTE IT ONLY WHEN YOU LOOK AT THE INCOME INCOME TAXPAYERS IN NEW MEXICO IT IS REALLY THE UPPER BUT WE ARE ABOVE AVERAGE. THE RATE IS THE HIGHEST AND SO I THINK WE NEED >> Robert: LUCKILY RIGHT NOW, WE CAN AFFORD SOME BUT HOPEFULLY WE ARE GOING ON ANY INCREASES IN ANY SO WE CAN ALLOW THOSE TO GROW, ESPECIALLY IN THOSE AREAS THAT'S THE AREA THAT WE'LL

>> Dan: WHAT SHOULD WE EXPECT >> Rep. Coll: IT IS ANYBODY'S I THINK IT'S PROBABLY NOT FROM WHAT I'M HEARING, JUST BUT WHO KNOWS? IT IS TOO EARLY >> Sen. Beffort: AGAIN, I GO WE ARE DOING THE MOST ONE STEP AT A TIME WITH THIS. I CAN SEE THAT IF THAT WE START GETTING MORE THAT WE WILL BE ABLE TO TACKLE AND THAT'S THE EXCITEMENT WE ARE CHIPPING AWAY AT REALLY INTO A REAL UP-AND-COMING >> Robert: DAN, IT IS GREAT

BUSINESSES, BUT WE CAN'T THEY NEED HELP, AND I THINK >> Dan: WHAT CAN WE DO >> Robert: I THINK THESE TAX >> Dan: WHEN WE TALK TAX HOW DOES THAT TRANSLATE >> Robert: IT WILL PREVENT THEY ARE STABILIZED, IT WILL >> Dan: MAX COLL, I HEAR YOU ARE THE GUY THAT HAS >> Rep. Coll: WE ARE GOING I THINK EVERYONE IS TRYING BUT WE ALSO HAVE TO MAKE UP WE WERE A BREAK-EVEN STATE WE HAVE A MODEST AMOUNT AND THE OTHER STATES ARE SO WE ARE DOING OKAY.

BUT WE HAVE TO BE VERY CAREFUL FUND GOVERNMENT, YOU CAN'T YOU HAVE TO FUND THEM THAT'S WHAT I WOULD URGE. >> Brian: DAN, I'M CONCERNED CUTS, INCOME TAX CUTS, I DON'T SEE HOW WE ARE GOING AND LOOKING AT THE FOOD TAX THE OBJECTIVE IS THERE, FOR EXAMPLE, IS THE OBJECTIVE POOR PEOPLE IN NEW MEXICO USE AND THAT'S ABOUT 10% OF NEW I DON'T THINK A FOOD TAX CUT SO I DON'T KNOW, YOU KNOW, BUT THEN YOU HAVE TO LOOK YOU HAVE TO FUND PUBLIC

>> Rep. Coll: CAN I COME IF WE WANT TO HELP THE POOR THEM AN INCOME TAX REBATE WHEN AND THEY WILL FILE IF THEY GET THAT'S THE BEST WAY TO GET PEOPLE WHO SPEND IT ON FOOD, AND IT REALLY HELPS THEM GET AND WE ARE RANKED VERY BADLY >> Robert: ROBERT RIVERA, WOULD CUT TAXES ON WHAT'S DRIVING THAT? >> Robert: WELL, FIRST OF ALL, THE FOREMOST AUTHORITY HE IS ONE OF THE FEW PEOPLE BUT THAT DOESN'T NECESSARILY THAT'S NOT THAT LARGE

YOU HAVE TO MAKE SURE THAT IT YOU HAVE TO BE CAREFUL BUT THE MOST IMPORTANT THING, THAT HALF A JAR OF WATER IF YOU'RE THIRSTY OUT OR TRUST IT AND POUR IT THAT'S THE POINT. >> Dan: SENATOR BEFFORT, DO HE HAS THIS MANDATE. PEOPLE HAVE BEEN TALKING AND NOW TO HEAR THAT WE ARE RECEIPTS TAX CUT, AND THE GO I'M WONDERING WHETHER PEOPLE >> Sen. Beffort: I THINK ENTHUSIASTIC IF WE GO WHICH IS TO LOWER THE TAXES AND I'D JUST LIKE TO SAY, WE HELP OUR POOR PEOPLE OUT

WHICH IS TO BRING BUSINESSES TO START LETTING THEM HAVE THEY CAN PAY HIGHER SALARIES AND SO THAT WE WILL NOT HAVE WE HAVE GREAT PROGRAMS NOW BETTER EDUCATION, AND NOW >> Dan: SENATOR BEFFORT, LET REPRESENTATIVE COLL, WHAT DO WHAT DO YOU THINK IS GOING >> Rep. Coll: I THINK WHAT FOR ON APPROXIMATELY $22 RATE, DO THE FIRST INSTALLMENT THERE MAY BE SOME OTHER SMALL ECONOMICALLY

THE REST OF THEM WON'T. WE DO NEED TO FUND WE DO NEED TO TRY TO GIVE WE DO NEED TO TAKE CARE >> Dan: THANK YOU, REPRESENTATIVE MAX COLL, AND IN ALBUQUERQUE, BRIAN THANK YOU ALL FOR JOINING JOIN US AGAIN NEXT WEEK AT THE REAL-LIFE ISSUES BEING I'M DAN VUKELICH. FOR EVERYONE AT "inFOCUS," TO RESPOND TO THIS PROGRAM, TO PURCHASE VIDEO CASSETTES OR OTHER EPISODES OR WRITE TO THE ADDRESS

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