New Mexico motorists could pay more to keep their vehicles registered and on the road under a proposal from the state Transportation Department, part of a plan to boost its revenue amid rising construction costs and projected declines in annual revenue.  Ricky Serna, the New Mexico Transportation Secretary, told lawmakers on the Transportation Revenue and […]

AI Summary:
“New Mexico’s Transportation Department plans to propose a 25-35% increase in vehicle registration fees and a new surcharge for electric vehicles to raise funds for road repairs. This proposal aims to address rising construction costs and declining revenues. Transportation Secretary Ricky Serna highlighted the need for these changes to maintain infrastructure, as fuel efficiency standards are reducing gas tax revenues significantly.”

  • acchariya@lemmy.world
    3·
    1 year ago

    Registration has become pretty cheap in comparison, I don’t think its changed much since at least 2018. Why don’t they consider applying higher sales tax to vehicle purchases instead of the 3% there is now? You would think:

    1. It would generate more immediate revenue

    2. It would hit poor people much less than regressive registration fees

    3. It would especially hit expensive EVs which are heavy because of big batteries and therefore contribute to road maintenance more

    • Steve@communick.newsOPMEnglish
      3·
      1 year ago

      I wouldn’t disagree with both going up.
      No increase for 7 years is a long time. It makes sense to increase it 25 or 35%.
      It doesn’t make sense there should be a sales tax discount on cars. They should absolutely be the standard 5.125% +local tax.