Rep. Doreen Gallegos’ Bill to Boost Small Business Advances in First Committee Hearing
Santa Fe, NM – Representative Doreen Gallegos’ (D-Las Cruces) bill to boost small business advanced in the House Labor and Economic Development Committee today. House Bill 79 would promote small, local businesses by making Small Business Saturday tax free at small businesses in New Mexico.
“New Mexicans have an incredible entrepreneurial spirit and our small businesses provide jobs and support our communities. We know that 68 cents of every dollar spent in a small business stays in the community. By making Small Business Saturday tax free, we can give our small businesses a boost, while promoting economic security for our communities.” said Rep. Doreen Gallegos.
House Democrats support local entrepreneurs and small business as economic engines for communities across the state and are committed to ensuring they can thrive in New Mexico. According to Civic Economics, 68 cents of every dollar spent at a small business is reinvested in the community. In addition to creating a tax free Small Business Saturday, the bill would ensure the tracking of the proposed cost deduction to ensure its effectiveness.
Small Business Saturday is held on the Saturday after Thanksgiving each year as a way to celebrate and support small businesses and all they do for their communities.
HB 79 now heads to the House Taxation and Revenue Committee.