In his June 16 op-ed titled, “Don’t Get Too Excited About Those Rebates,” Paul Gessing, president of the Rio Grande Foundation, noted that during her re-election campaign, Governor Michelle Lujan Grisham decried Republican opponent Mark Ronchetti’s rebate proposal as a “fiscally irresponsible socialist scheme” and said it would eliminate funding for the state budget.
“What changed?” Nothing changed. Mr. Ronchetti’s proposal was for permanent rebates, which would limit the state government’s flexibility to direct funds as needed, as well as adjust rebates based on oil revenue volatility. His proposal would likely mean less money for critical programs like the early childhood trust fund.
Gessing then asked when Lujan Grisham and Democrats in the Legislature will get serious about making New Mexico less dependent on oil and gas.
All New Mexicans want a strong and diverse economy. Gov. Lujan Grisham is doing many things that have already strengthened and diversified New Mexico’s economy. Here are two examples:
· During Lujan Grisham’s administration, New Mexico has ranked in the top 10 for job growth in the country overall—a record high for New Mexico.
· The governor fulfilled her campaign promise to legalize cannabis, creating over 11,000 new jobs, raising an estimated $20 million in revenue for the state in the first year, and generating over $318 million in annual sales of recreational cannabis. Legal cannabis has created and will continue to create thousands of jobs and serious tax revenue for local governments to support much needed services in every corner of New Mexico.
Governor Lujan Grisham and Democrats in the Legislature are working hard to make life better for all New Mexicans, and the tax rebates are just one demonstration of that work.
Eric Hubbard