A New Mexico lawmaker wants to do away with most taxes and replace them with up to a 2 percent flat tax on most things people buy.
Republican Sen. William Sharer of Farmington introduced legislation Wednesday that calls for a 1 percent tax on gross receipts for the state, a ½ percent for counties and a ½ percent for cities.
He first floated the idea of a flat tax for the state two years ago.
Sharer says a University of New Mexico analysis done at the time found the flat tax would bring in $1.7 billion more for the general fund than the $3.9 billion generated from all taxes combined.
Sharer says he hopes New Mexico will lead the way for the rest of the nation with the adoption of a flat tax.
Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.