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Letter To The Editor: House Bill 291 Targets Los Alamos
Los Alamos
It has been decades since we saw many bills in the state Legislature targeted at Los Alamos. Most of those were aimed at the Lab. Our state representatives worked hard to keep them at bay.
A bill advancing through this year’s legislative session would impact the whole state, but would have by far its most adverse effect on the citizens of Los Alamos. One of its three sponsors is our own state representative, Christine Chandler.
House Bill 291 would raise taxes in several ways. It would increase taxes by up to 1.6% on earned income (salaries, wages, Social Security and other pensions) on many taxpayers with annual incomes above $100,000. That happens to be the median household income in Los Alamos. For many, that would be $1000-$2,000 per year or more. Investment income would be hit much harder. Capital gains tax rates would increase, regardless of income bracket, by 67 to 122%! Yes, they would basically double.