Commentary: Congressman Steve Pearce released the following statement after holding a press conference with Gary Coppedge, CEO of Haciendas at Grace Village (HGV), discussing the local impact the recently passed federal tax changes on businesses and the New Mexico workforce:
“It’s been two months since historic tax reform legislation was signed into law. As a result, businesses here in New Mexico and across the nation are putting their savings where it counts – their employees and the local economy,” stated Rep. Pearce. “When I was a business owner, these opportunities were not available for me to more easily expand operations or provide greater benefits to my hardworking employees. That’s because in the past, small businesses were not a priority. By simplifying the tax code, cutting taxes for middle- and lower-class families, and supporting businesses, we are once again refocusing on making the nation stronger and more competitive on a global scale. I hope to see more owners like Gary Coppedge announce plans to expand and invest in their employees for a better, stronger New Mexico.”
Across the nation, 4 million workers and counting are seeing the benefits of tax reform thanks to businesses using their savings to give out bonuses, raise wages, and increase investments into the U.S. economy. More than 90% of workers will see bigger paychecks since the IRS updated income-tax withholding tables for 2018, even as early as this month. Tax cuts are even fueling confidence for companies in the U.S., with optimism among small businesses raising more than projected for the month of January and owners saying now is a good time to expand operations.
Businesses around New Mexico and the nation have an increased confidence in their company’s annual earnings due to federal tax reform. HGV is one example of a company in Las Cruces that is optimistic with a more business friendly environment. Recently, HGV announced they will increase salaries and bonuses for employees, and are launching plans for a $3,000,000 expansion that will create about 20 new full-time jobs in the area.
“I knew that the proposed tax cuts would be very beneficial for Haciendas at Grace Village right here in Las Cruces, and now that the tax cuts are law, we have more resources to invest in expanding operations and benefits for employees, including pay raises,” stated Gary Coppedge, CEO of Haciendas at Grace Village. “It is because of their hard work that this company is successful, and it is satisfying to be able to give back to them for their dedication. I thank Congressman Pearce for joining me here today to celebrate the positive results we’re seeing thanks to tax reform. This is not only good news for HGV, but for the economy and community throughout the Mesilla Valley.”