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Read. Follow. Verify.New Mexico House Bill 296 Increases Working Families Tax Credit to 50 Percent of Federal Credit
Last action · February 9, 2026: HHHC: Reported by committee with Do Pass recommendationSponsors: Derrick Lente and 2 others
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What This Bill Proposed
New Mexico House Bill 296 increases the state's working families tax credit from 25 percent to 50 percent of the for eligible resident taxpayers starting in tax year 2026.
Eligible low-to-moderate-income New Mexico resident taxpayers can claim a larger state tax credit against their income tax liability and receive a larger direct refund for any credit amount exceeding their tax liability.
- The Working Families Tax Credit is a state-level tax credit in New Mexico linked to the federal Earned Income Tax Credit to provide tax relief to low- and moderate-income working individuals and families. context
Who It Would Have Affected
Groups the bill's text would have affected, as described in the record. Being affected is not a position for or against it.
New Mexico resident taxpayers
Eligible resident taxpayers may claim a higher percentage of the federal earned income tax credit against their state income tax liability and receive larger refunds for excess amounts.
Key Facts
You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.
Frequently Asked Questions
What is the new percentage for the working families tax credit?
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News Coverage
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Votes, people, money & the original sourceWhere This Stands
This bill did not become law - Died at adjournment · in House committee.
Procedural history
2 actions- Feb 9, 2026HouseHHHC: Reported by committee with Do Pass recommendation
- Feb 3, 2026HouseCommitteeSent to HHHC - Referrals: HHHC/HTRC
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Lobbying Activity
No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.
Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Sponsors
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Doubling of Tax Credit Rate
The legislation proposes a doubling of the state matching rate for the federal earned income tax credit from 25 percent to 50 percent.
Connected Entities
Sources
www.nmlegis.gov
Analysis Score
0–100- Significance20Lowered because this bill did not pass (its text scored 65)
- Controversy40Intensity of disagreement among stakeholders
- Entertainment5Compellingness for a non-policy-wonk reader
- Buzz30Current news / social attention level
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