Tuesday, 10 January 2017 21:48

Accountability – Not Excuses and More Money

Based on unofficial projections, the state Land Grant Permanent Fund (LGPF) will pay out a record-high $688 million for public schools and other beneficiaries in the coming budget year. That amount is based on a 5 percent withdrawal rate. But there is some bad news.

There have already been two bills pre-filed for the upcoming 60-day legislative session wanting to bump the rate taken from the LGPF up to 6 or 6.5 percent.

Here is NMBC’s position: Permanent Fund depletion will hurt the future of New Mexico children! The LGPF is New Mexico’s education endowment fund – not a rainy day, use it when times get tough fund. While student enrollment has remained steady, education funding has increased by more than a billion dollars over the past ten years. Yet, the educational system continues to fail in nationwide comparisons. Accountability is the answer to failure – not increased funding. Further distributions from the LGPF amounts to an attack on New Mexico’s children who deserve to have this fund in perpetuity.

We will discuss the LGPF and other NMBC Priority issues at the BASH (Business and Social Hour), this Thursday, January 12. Click HERE for tickets!

Richard Anklam, President and Executive Director of the New Mexico Tax Policy Research Institute will provide insightful comments and you don’t want to miss what Carla Sonntag, NMBC President and Founder, is going to cover! Join business and community leaders at the BASH this Thursday, along with Albuquerque Mayoral Candidates and other state and local elected officials.

Join Us at the first BASH of the year on January 12, 2017, from 4:30 - 6:30 pm, at the Albuquerque Country Club, 601 Laguna Blvd SW. Light hors d'oeuvres provided; cash bar available.

Limited Seating left – get your tickets today! NMBC dues paying members* get reduced price tickets HERE. Not an NMBC member? Join NMBC HERE.

Special Thanks to our BASH Sponsors:

GAAR/CARNM

New Mexco Stockman Magazine

New Mexico Fire Sprinkler Association

Tickets are only $10. Elected officials, Cabinet level government appointees and declared candidates for public office are welcome to attend the BASH as a guest – RSVP for the BASH HERE, by email to nmbiz@nmbizcoalition.org, or by calling (505) 836-4223.

*NMBC members who pay $100 or more in dues per year receive discounted entry to events.

Don’t hesitate to call our office at (505) 836-4223, email us at nmbiz@nmbizcoalition.org or visit www.nmbizcoalition.org if you have questions, comments or want more information about NMBC.

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