A lack of economic freedom (and dynamism) is among New Mexico’s defining characteristics. The latest (2023) edition of the Canada-based Fraser Institute’s “Index of Economic Freedom of North America” again places New Mexico in the “least free” quadrant.
In fact, after a modest improvement to 43rd in the 2022 edition of the Index, New Mexico slid back two spots to 45th overall.
This is no surprise to us at the Rio Grande Foundation as New Mexico is in the midst of a once-in-history oil and gas revenue boom. Sadly, rather than reducing tax burdens and working to grow New Mexico’s private sector, the Gov. and Legislature have mostly just grown the size of government.