NM’s new $300 million early childhood fund isn’t growing & could be reallocated (but MLG still wants a federal bailout)

A recent article from the Santa Fe New Mexican notes that New Mexico’s new early childhood permanent fund is unlikely to grow as much as the advocates would like.

Quoted in the piece is Rep. Javier Martinez, one of the most left-wing members of New Mexico’s far-left Legislature. Martinez is and an advocate of “ending reliance on fossil fuels” but he sure loves the money they generate. Unfortunately, oil/gas revenue is down since the pandemic so the fund isn’t growing as fast as he’d like.

And, while Gov. Lujan Grisham cries about Republicans in Congress and the President not passing yet another massive bailout, she refuses to reallocate the $300 million early childhood “permanent fund” to more pressing needs. This fund was created in the 2020 session but apparently it is Washington’s job to fund NM government, not hers.

NM early childhood fund could get oil-powered takeoff - New Mexico Oil & Gas Association