New Mexico Gubernatorial Candidate Gregg Hull Calls for Eliminating State Income Tax 

New Mexico Republican gubernatorial candidate Gregg Hull is calling for the complete elimination of the state’s personal income tax, a pro-growth reform that would allow residents to keep more of their hard-earned money and make the state significantly more competitive with its neighbors. 

Hull has repeatedly made income tax elimination a centerpiece of his tax reform agenda. During a Republican gubernatorial debate earlier this year, Hull made his position clear: “I do believe that the personal income tax in the state needs to be eliminated. That’s going to make sure we stay competitive with the states around us.” 

This proposal would represent a dramatic improvement to New Mexico’s tax code. Currently, the state imposes a six-bracket system with a top rate of 5.9%. This puts New Mexico at a competitive disadvantage, particularly as states across the country continue moving toward lower, flatter, and simpler income taxes. 

The benefits of income tax elimination are clear. New Mexico’s income tax is higher than that of all the states bordering it. Colorado and Arizona levy lower, flat income taxes, and Texas imposes no income tax. Eliminating the income tax would help make the state more competitive and return nearly $2.5 billion to taxpayers. For someone making the median wage in New Mexico, that would translate to an additional $2,400 back in your pocket per year. At a time when nearly 40% of New Mexicans are struggling to afford the basics, having more money in their pocket is key.  

The state is also in a uniquely strong position to pursue this reform. Years of growing revenues from the oil and gas industry have allowed the state to build up substantial reserves. Rather than treating the oil-and-gas windfall as permission to expand recurring government spending, New Mexico should use this moment to make the state more affordable and more resilient: return surplus dollars to taxpayers through broad-based tax relief while protecting essential services with disciplined long-term reserves.  

Hull is far from the only Republican in the state calling for elimination. In July, House Republican leaders – Minority Leader Gail Armstrong, Minority Whip Alan Martinez, and Caucus Chair Rebecca Dow – called on Gov. Michelle Lujan Grisham to convene a special session to completely repeal the personal income tax. 

New Mexico’s increased revenues from oil and gas are a welcome sight and provide lawmakers a real opportunity to go bold and reform the state’s tax code. Rather than using this revenue windfall to permanently expand government spending, the state’s strong fiscal position can be used to provide lasting relief. Republicans like Gregg Hull have called for taking that approach, using today’s revenue growth to reduce the tax burden on New Mexicans while putting the state on a more sustainable fiscal path for the future.