Gov. Martinez comes in 6th overall in Cato Institute ranking of governors’ fiscal policies

The free market Cato Institute ranks the fiscal policies of the nation’s governors every two years and Gov. Martinez’s policies show her to be among the best in the nation on fiscal issues with an overall ranking of 6th.

While notable tax-cutters McCrory (NC) and Brownback (KS) were the top-performers, Martinez outperformed neighboring governors Perry (TX) and Fallin (OK), not to mention Brewer (AZ) and Herbert (UT). Colorado’s Hickenlooper came in 2nd-last on the list beating out only Jerry Brown (CA).

Of Martinez, the Cato report noted:

Governor Martinez scores above average on spending and has pushed major tax reforms. Her proposed general fund spending increases have averaged a modest 2.4 percent in recent years. She has pursued tax cuts to make New Mexico more economically competitive. In 2012 she signed a bill reducing gross receipts taxes on inputs to construction and manufacturing, and she has called for exempting 40,000 small businesses from the gross receipts tax. Her biggest tax policy success was pushing through a cut to the corporate income tax rate from 7.6 to 5.9 percent, phased in over five years.

While New Mexico’s economy remains sluggish, there can be no doubt that Martinez has faced more difficult economic and political challenges than most.

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