NM to spend $308 million for “quantum computing”

Nobody wants to see New Mexico’s economy grow and thrive more than we do. But New Mexico’s politicians (despite massive oil and gas revenues) have displayed little understanding of how to bring economic growth and diversification to our state.

We still remember the supposed economic impact of Maxeon Solar and Ebon Solar, neither of which have panned out, but both of which have been conveniently “memory holed.” Now, the Gov. and Legislature are planning (as part of the recently-Senate-passed budget) to pour a mind blowing $308 million into so-called “quantum computing.” The plan is to attract such businesses to New Mexico (using money from oil and gas of course).

We have no problem with quantum computing. We even support bringing data centers to New Mexico, but time and time again the Legislature and Gov. are ONLY willing to fund their own pet priorities, not to make New Mexico a more attractive place to do business overall by reducing taxes and improving our overall policy climate.

Instead, with just a few days left in the session we are likely to see a slew of special interest tax giveaways combined with tax hikes on truckers, vehicle owners (SB 2), and businesses (SB 151).