On Tuesday May 5th, Gov. Michelle Lujan Grisham she would support an effort to use New Mexico’s nearly $18 billion Land Grant Permanent Fund to help the state shore up what its projected revenue shortfall that was worsened by by the response to the COVID-19 pandemic and the impending shortage in oil and gas revenues. “I think we can make a legitimate case that that is an appropriate use in this extraordinary emergency,” the governor said.
NMBC has continued to be a strong voice in protecting the LGPF which distributes over $1.1 billion to NM beneficiaries and provides the lions share for our state schools funding. NMBC strongly agrees with Senator John Arthur Smith of Deming in his criticism of the Governors notion to tap the fund. “I still don’t think it’s responsible,” said Sen. Smith, the Senate Finance Committee chairman. “I fully understand the desire to try and rob Peter to pay Paul, but I think there are other things that can be done between now and then.” Read more HERE.