There were two things discussed early in the debate that are a BIG deal for NMBC:
Raiding the permanent fund: NMBC has worked for years to protect the Land Grant Permanent Fund from being decimated by mismanagement and distributions that are too high. We have testified in more legislative committees than we can count to stop legislators from treating this fund like the state’s bank account – it is not. The fund is designed to provide for our children’s education in perpetuity and in just a few years – if left alone – will provide $1billion/year for that purpose. The fund will continue to grow and provide more to education, if we can keep the raids from occurring. Currently the fund saves tax payers about $1,100/year in taxes.
Increasing the distributions from this fund is an absolute nonstarter for NMBC!
Here are the candidates’ intentions in regards to the Land Grant Permanent Fund:
- Lujan-Grisham: YES, she wants more out of the fund
- Pearce: NO, he does not want to increase distributions from the fund
Increasing the state’s minimum wage: NMBC is opposed to government mandated wages. Period. Free, competitive markets will set wages appropriately.
Increased minimum wages will hurt the very people that some say they are trying to help. How?
- Employers who can’t afford the increase will shed positions or go out of business, meaning fewer jobs;
- People in some positions impacted by the increase will be replaced with kiosks and self-checkouts. Have you been to Wal-Mart or Sams recently?
- Those employers who don’t go out of business will raise prices to cover the increased wage costs, which means higher service and commodity costs. And the working poor could find themselves further behind than before the ‘raise.’
NMBC’s op ed on minimum wage has been published here.
Here are the candidates’ intentions in regards to raising the minimum wage:
- Pearce: NO, he will not raise the minimum wage;
- Lujan-Grisham: YES, she will raise the minimum wage initially to $10/hour and go up to $12/hour with automatic cost of living increases.