The debate concerning Texas’ economic success continues. With a Tejana as our new governor, many on the left believe New Mexico will become more economically similar to Texas. We at the Rio Grande Foundation have cheered that prospect.
Not surprisingly, left-wing economist Paul Krugman is not so sanguine about the prospect. But, as this blog posting at The Economist notes, Texas and slow-growing, high tax, heavy regulation states like New York really are economically different.
While New Mexico may not want to adopt every single policy Texas has in place — I’d settle for no personal income tax and a Right to Work laws. As this article points out, Texas is not perfect (spending growth has grown rapidly in recent years), but it is doing a lot right.