Teachers' union: Tax cuts must go

ALBUQUERQUE (KRQE) - On the tails of the tax-free holiday weekend, the New Mexico Teachers Union called on lawmakers Saturday to put an end to tax cuts and corporate loopholes that they claim are robbing schools of much needed tax dollars.

"Big corporations enjoy a huge tax break in New Mexico since state lawmakers allow capital gains to be taxed at half their value instead of the full value," said Mark Clark, vice president of the Cibola County Federation of School Employees.

Clark said corporations doing business in the state get a tax-free holiday all year long.

"This is a repeal of tax breaks that were given when times were good," Clark said. "Times are not good anymore."

Clark also said that large corporations will send profits to states that don't collect corporate taxes, sucking educational dollars out of the system.

The union said the money is needed now more than ever, with $800 million cut in education this year.

"You are going to see a problem in the schools developing where things are not going to be functioning the way they should be, which will affect the health and safety of our students," Clark said.

The union members are trying to get 65,000 signatures from teachers to take to lawmakers urging change.