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Thu April 3, 2014
N.M. Democrats Urge Restraint On Tesla Incentives
A dozen legislators and other Democrats say New Mexico shouldn't go overboard in granting tax breaks to Tesla so the electric car company locates a battery plant in the state.
In a letter to the Albuquerque Journal, the Democrats say any bid to attract the plant shouldn't rely solely on tax breaks.
The Democrats' letter says New Mexico can't afford to give up so much future tax revenue to Tesla that education and other needs aren't met. It also says incentives for Tesla shouldn't cause other taxpayers to pay more.
Republican Gov. Susana Martinez has said she might consider calling a special legislative session on economic incentives to make New Mexico more appealing to Tesla.
Arizona, California and Texas also are trying to win the $5 billion battery plant.
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