Business digest — March 13

Finance authority accepting applications The New Mexico Finance Authority (NMFA) is accepting applications through March 30 for awarding low-interest loans for businesses in qualified low-income areas throughout New Mexico. New Markets Tax Credits can provide low cost gap financing to fund projects and business expansions that are more than $5 million. Benefits include lower cost […]

Nixing state income tax boosts opportunity

If the classic 1940 movie “Grapes of Wrath” were remade for 2012, the Joad family would be trekking, instead, from California to Oklahoma. Based on the 1939 novel by Californian John Steinbeck, the movie showed the Joads suffering through the 1930s Great Depression and Dust Bowl in Oklahoma, then striking out for the Golden State […]

Tax aid offered to low income, senior citizens

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CNJ staff photo: Tony Bullocks Silvia Macias, left, of Clovis has her taxes prepared Thursday by volunteer Ann Sweat of AARP tax aide at Roy Walker Recreation Center. This was Macias’ first time using the free service and Sweat has been a volunteer tax preparer for four years. Tonjia Rolan Low income and senior citizens […]

Income gap not wide between rich, poor

A Congressional Budget Office study has claimed that between 1979 and 2007 after-tax income for richest households grew substantially more than it did for others. Let’s look at what is not happening. The poor are not getting poorer because the rich are getting richer. Gary Burtless of the Brookings Institution says living standards have improved […]

Resident remembers Hotel Clovis history

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CNJ staff photo: Sharna Johnson Anna Wyatt looks at the spot where her styling chair was once anchored to the floor in the Hotel Clovis. Wyatt said in the 1960′s when she worked at the hotel, she was only the third female barber to be licensed in the state. Sharna Johnson A lot has changed […]

Opponents say affordable housing plan unnecessary

Sharna Johnson Voter defeat of an Affordable Housing Ordinance city officials say was designed to create incentives for private industry to develop housing for low-income residents doesn’t mean housing won’t be built, according to opponents of the measure. Semi-retired banker Darrel Nance said if government gets out of the way and the demand exists, private […]

Expert: Hotel Clovis project taxpayer funded

Sharna Johnson While the extension of low-income housing tax credits to developers puts implementation and management in the hands of private industry, the projects born of them — including the Hotel Clovis project — ultimately involve taxpayer funds. “The government is financing (the project) essentially but it’s technically true that the government’s not going to […]

Press release: $46 million for low income communities

WASHINGTON – U.S. Senator Tom Udall (D-NM) today announced that Finance New Mexico will receive $46 million to support job creation and investments from the private-sector in economically distressed communities across the state. The $46 million comes through the New Markets Tax Credit (NMTC) program under the U.S. Department of the Treasury’s Community Development Financial […]

Officials: Income tax rebate hearing formality

Kevin Wilson A public hearing on establishing a low-income tax rebate scheduled for a Tuesday Curry County Commission meeting is nothing more than a formality, according to county officials. Treasurer Bernice Baker said the only thing the rebate would change is the county would be required to reimburse the state for rebates already available to […]

Good stewardship acting for others, not self

Judy Brandon I wrote about Auntie Mille several years ago. A reader request has prompted me to tell about her once again. I found out about her from one of my students who her great niece. Auntie Mille was a single mother who worked to stretch her meager income. It was the late fifties in […]

Press release: Udall: N.M. receives $1 million to expand nutrition aid for low-income seniors

Obesity battle should start with cafeterias

Freedom New Mexico Childhood obesity has been a growing problem for several years. One of the biggest battles regarding the issue has been in school cafeterias, which must deal with the conflicting problems of low income and overconsumption. Because of predominant low household incomes, some public school districts provide free breakfasts and lunches to all […]

USDA enhances integrity and defensibility of farm programs

WASHINGTON, Dec. 31, 2009 – Agriculture Secretary Tom Vilsack today announced that USDA is partnering with the Internal Revenue Service to reduce fraud in farm programs and streamlining payment limits for family farmers. The actions are intended to strengthen the integrity and defensibility of USDA farm safety net programs and help the agricultural industry to […]

AARP seeking volunteers to help with income taxes

CNJ staff AARP is seeking volunteers statewide to help others with their income taxes. All volunteers are trained in basic tax law and tax forms as well as how to use computers and software. Volunteers use their knowledge, along with computers and software provided to prepare tax returns for others. Volunteers are asked to serve […]

Poor economy boosting recruitment

By Tom Philpott: CNJ columnist Middle-class American youth are entering the military in significant numbers today, drawn by more competitive pay, a battered civilian job market and the buzz surrounding an improved GI Bill education benefit. The Department of Defense announced earlier this month that for the first time since the draft ended and the […]

Everybody’s business: The loss, profit game

By Sandra Taylor-Sawyer: CNJ business columnist In order to make good management decisions, the usage and regular review of monthly financial statements are necessary tasks. The two basic financial statements are the balance sheet and the profit and loss (income) statement. The profit and loss statement is the focus for this article. The income statement […]

Bingaman bill would help strengthen Medicaid, save taxpayer dollars

U.S. Senator Jeff Bingaman today renewed his effort to pass legislation that seeks to protect and strengthen Medicaid while saving taxpayer dollars. More than 50 million Americans rely on Medicaid, the federal-state funded health initiative for low-income individuals and families.

Udall: Federal grant will allow 3,800 New Mexico students to earn college credit

U.S. Senator Tom Udall, D-N.M., today announced that New Mexico will be receiving $98,800 to pay for low-income students to take Advanced Placement (AP) and International Baccalaureate (IB) exams.

New Mexico’s school breakfast program receives top national ranking

New Mexico has been ranked 1st in the nation for low-income student participation in the school breakfast program, according to the School Breakfast Scorecard, released in January by the Food Research and Action Center. Statewide, 62.9 percent of eligible low-income children participated in the school breakfast program, the top ranking in the country. The national […]

VA health enrollment will increase

By Tom Philpott: CNJ columnist An estimated 258,000 middle-income veterans with no service-connected health conditions will be allowed by late June to enroll in the VA health care system.