Elaine Cortez, a New Mexico State Representative, has voiced concerns regarding the taxation of Social Security income, arguing that it imposes an unfair burden on retirees who have already contributed to the system. She described this as a form of double taxation during a statement made with the New Mexico Suncast on March 6.
"Essentially this is a double tax," said Cortez, according to YouTube. "We've done it for the lower income. People are not just making bank off of Social Security."
In the podcast, Cortez said that taxing Social Security benefits implies that most individuals were already taxed on their earnings during their working years. She further explained that people are not "making bank" off Social Security and advocated for eliminating the tax to alleviate financial pressure on New Mexicans.
According to USA Today, even modest increases in income can push Social Security recipients into higher tax brackets, potentially resulting in them paying more taxes on benefits intended to support them. In New Mexico, lower- and middle-income retirees are exempt from these taxes. However, higher earners, including some middle-class couples, still face state taxes on their Social Security benefits, which penalizes them for a lifetime of savings and responsible planning.
Cortez's website describes her as a lifelong New Mexican, entrepreneur, and educator who has spent 37 years in Hobbs growing her family and career. She holds a Doctorate in Business Administration and currently teaches at her alma maters—the University of the Southwest and Eastern New Mexico University.
