Business proposals supported

Two of Albuquerque’s major business organizations say they will support Martinez administration proposals to lower corporate income tax rates, spend more money on in-plant job training and limit legal liability for New Mexico’s emerging space-flight industry.

The Greater Albuquerque Chamber of Commerce warned that “a crisis looms” for the state’s economy because of an overreliance on federal spending and jobs.

“Our focus is on private-sector job creation,” the Greater Albuquerque Chamber said. “Our belief is that only by fostering partnerships with agencies and organizations that share this goal and encouraging a bipartisan approach can the Legislature and governor finally arrive at solutions.”

The Albuquerque Hispano Chamber of Commerce said the Legislature and the business community must work together “to make New Mexico more competitive.”

Both chambers, which just released legislative position papers for the 60-day legislative session, support:

⋄  Reducing corporate income taxes from a top rate of 7.6 percent to a single flat rate of 4.9 percent.

⋄  Allowing corporations to calculate income taxes solely on the amount of their sales in New Mexico, an approach known as single sales factor.

⋄  Putting $10 million into a state fund for improvements to local infrastructure required by businesses that are locating or expanding in New Mexico. The Greater Albuquerque Chamber said this funding, authorized by the Local Economic Development Act, will help local communities compete with states such as Arizona, Texas and Oklahoma that can offer cash incentives to recruit businesses, a practice prohibited by the New Mexico’s constitution.

⋄  Funding the Job Training Incentive Program at $4.74 million.

⋄  Passing the Spaceflight Informed Consent Act. That legislation would limit liability claims against spacecraft and parts manufacturers brought by passengers on spacecraft launched from Spaceport America, near Truth or Consequences.

⋄  Changing the way capital outlay funds are appropriated so strategic investments in projects that will encourage new business and more jobs are adequately funded.

The Hispano Chamber called for monies that will support the Hispanic Education Act, which is designed to close “the achievement gap between Hispanic and non-Hispanic students.”

The chambers both support more funding for marketing of tourism to New Mexico and Albuquerque.

The chambers agree with Gov. Susana Martinez’s proposals to spend $11.3 million to reward effective teachers and school principals; $4.7 million to support schools that need to improve; and $13.5 million to fund programs that improve reading skills among elementary school students.

The Greater Albuquerque Chamber also endorsed a request for $20 million for early-childhood programs.