New Mexico politicians whine about BBB while sending $2 billion out of state

There are plenty of reasons to dislike the Big Beautiful Bill (separate versions of which have passed both houses of Congress and now must be reconciled). We like the bills overall due to their tax relief and some good policies contained within them, but, for New Mexico’s leftist political elites any reduction in federal Medicaid spending costs them money (since the feds pick up 75% of New Mexico’s overall spending).

Go. Lujan Grisham has been particularly active in lobbying against the bill.

But the BBB as passed in the Senate doesn’t ACTUALLY cut Medicaid as the following chart from Cato Institute health care expert Michael Cannon notes:

Also, while RGF (and others) have repeatedly pointed out through this debate that New Mexico is sitting on $61 billion in oil and gas “savings.” The State Investment Council JUST sent $2 billion to investment firms out of state. Also, as the visual below highlights, revenue from New Mexico’s investments outpace revenues from the personal income tax. If New Mexico policymakers like MLG and others are SO concerned about federal spending cuts impacting New Mexico you’d think they could use this money to pick up the slack instead.

Better still, New Mexico should have constrained spending, improved its economic policies, and diversified/grown its economy so as to not NEED so many federal dollars in the first place.