Tipping Point New Mexico Episode 186: $2 Billion Deficit in State of New Mexico Budget – What To Do

On this week’s discussion podcast, Paul and Wally discuss the fact that New Mexico is estimated to be facing a $2 billion deficit according to Sen. Finance Committee Chair John Arthur Smith. How will that gap be filled and what additional concerns should New Mexicans have about this situation?

Wally and Paul agree that raising taxes would be a really bad idea. Data from the Mercatus Center done in 2018 states that “if spending commitments demand more revenues, are states in a good position to increase taxes without harming the economy? (New Mexico ranks 50th in this area.)

Speaking of taxes, candidates for the Legislature and federal office in New Mexico can take the pledge not to raise taxes here: https://www.atr.org/take-the-pledge.

Speaking of the Legislature, a group misleadingly calling themselves, “No Corporate Democrats” is attempting to make some waves in legislative races. The groups attempting to defeat these legislators are definitely of the left, but they aren’t anti-corporate. In fact, one of their main areas of focus is abortion which really isn’t an issue of corporate concern.

NM’s budget/K-12 system will be even more vulnerable to budgetary downturns than other states

The Journal editorializes in support of RGF efforts to at least temporarily repeal city/county plastic ordinances. Bernalillo County suspends ban on single-use bags for 60 days and Santa Fe does the same. Both say they are concerned about health issues.

The Americans for Tax Reform has a website where they have collected no fewer than 171 Regulations Waived to Help Fight COVID-19


Paul urges Gov. Lujan Grisham to check out the site and adopt some of the ideas.