Santa Fe – Today, Representative Doreen Gallegos' (D-Las Cruces) bill to boost small business in New Mexico was signed into law by Governor Susana Martinez. House Bill 79 will promote small, local businesses by making purchases at small businesses tax-free on Small Business Saturday.
"I am so pleased that the Governor has recognized the incredible entrepreneurial spirit of New Mexicans. Small businesses provide jobs and support our communities, and this bill will help them generate business, while giving consumers a break," said Representative Doreen Gallegos. "Creating incentives for consumers to shop at small businesses in our state is an important step toward promoting economic security in our communities and ensuring small businesses can thrive."
Small Business Saturday is held on the Saturday after Thanksgiving each year as a way to celebrate and support small businesses and all they do for their communities. According to Civics Economics, 68 cents of every dollar spent at a small business is reinvested in the community. In addition to creating a tax-free Small Business Saturday, the bill would ensure the tracking of the proposed cost deduction to ensure its effectiveness.