Las Cruces Sun-News (New Mexico) (03/05/12) Milan Simonich

New Mexico Gov. Susana Martinez signed legislation into law on March 5 that reduces taxes on unemployment insurance in 2012. Although the measure will boost unemployment insurance premiums next year, rates are still less than those set forth by a prior bill. The bill’s sponsors, Sen. John Arthur Smith (D-Deming) and Stuart Ingle (R-Portales), say the aim was to ensure the unemployment fund remained solvent and reduce expenses for businesses. According to Martinez, “As New Mexico job creators are working to get our economy back on track and hire new workers, it’s vital that we provide this temporary tax relief to ensure that we’re not putting barriers in the way of job creation.”