New Mexico is already among the most “generous” states in the nation when it comes to film subsidies. It is also economically-far weaker than any of its neighbors (which are growing faster and have higher personal incomes).
And, with New Mexico’s Legislature planning to spend $380 million on film AND eliminate the $50 million cap on film subsidies, a story detailing recent events in Colorado caught my eye.
Colorado barely subsidizes film currently to the tune of $750,000. But, in November the State elected Jared Polis a left-wing “progressive” who, among other things wanted to grow the film subsidy program. Well, the Democrat-controlled Colorado Legislature just rejected a proposal that would have increased the State’s film subsidy to $2 million annually.
Fiscal sanity prevailed with Democrats rejecting a film subsidy program that is a tiny fraction of what New Mexico already has on the books. What will happen to New Mexico’s truly egregious SB 2?