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In an effort to boost economic growth and attract more businesses to the state, New Mexico lawmakers have proposed a comprehensive tax reform plan aimed at simplifying the state's tax code and reducing the tax burden on individuals and businesses.Under the proposed plan, which was unveiled by Governor Sarah Hernandez and a bipartisan group of legislators, the state's gross receipts tax would be streamlined to make it easier for businesses to comply with tax laws. The plan also calls for a reduction in the corporate income tax rate and the elimination of certain tax credits that are seen as outdated or ineffective."We believe that by making our tax system more competitive and business-friendly, we can encourage more companies to invest in New Mexico and create jobs for our residents," Governor Hernandez said in a statement.The proposed tax reform plan has received both praise and criticism from various groups. Supporters argue that lowering taxes will stimulate economic growth and lead to increased revenue for the state, while critics say that reducing taxes could result in cuts to essential public services.In addition to the proposed tax reform plan, lawmakers are also considering other measures aimed at improving the state's economy, such as investing in infrastructure projects and expanding workforce development programs.New Mexico currently ranks near the bottom in terms of economic growth and job creation, and lawmakers hope that the proposed tax reform plan will help to reverse this trend and make the state a more attractive destination for businesses and investors.The proposed tax reform plan will now be debated and considered by the state legislature, with lawmakers expected to vote on the measure in the coming months. If passed, the plan could go into effect as early as next year.