Millionaire NM House Speaker Egolf owes $10k in back taxes while taking $350k in CARES Act funds

On Thursday, the Republican Party of New Mexico sent out a press release showing a tax lien document revealing that Santa Fe state representative and Democrat Speaker of the House Brian Egolf owes over $10,000 in federal back taxes. 

Even worse, Egolf applied for and accepted up to $350,000 in federal stimulus funding in April from President Trump’s CARES Act while owing thousands of dollars to taxpayers. The CARES Act funds were meant to help suffering businesses get through the COVID-19 pandemic. 

Republican Party of New Mexico Chairman Steve Pearce wrote, “With Democrats in charge, Santa Fe liberals like Brian Egolf have raised taxes on hard-working New Mexicans by hundreds of millions of dollars,” 

“But the top New Mexico House Democrat won’t pay his own taxes, going back to even before he was elected speaker. Speaker Egolf should step down and pay back what he owes the taxpayers in full.”

“Speaker Egolf has led Democrats in jamming through the largest tax increase in state history not once, but twice—all while he owed thousands of dollars in federal taxes,” Raye Byford, Republican candidate for House District 47, said. “New Mexico deserves better than a hypocritical Santa Fe politician who says one thing and does another. I join Chairman Pearce in calling for Speaker Egolf to step down and make good on his debt to the taxpayers.”

Speaker Egolf, a Santa Fe lawyer, whose house is worth over $1 million, and his net worth is estimated in the millions.

According to the Republican party of New Mexico release, “Since becoming speaker in 2017, Egolf has led House Democrats in ramming massive tax increases through the legislature—including two which were the largest in state history at the time they were passed. In his first year as speaker, Egolf led New Mexico House Democrats in passing the largest tax increase in state history out of the House at $350 million. In 2019, Egolf and House Democrats doubled down and once again passed the largest tax increase in state history that was eventually signed into law—this time $580 million.” 

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