New Mexico stands at a critical juncture. With one of the largest sovereign wealth funds in the nation and a recent record tax surplus, we have the financial resources to invest in our communities without needing to take on more debt. Unfortunately, these funds have been squandered without meaningful progress in education, healthcare, or public safety.
Now, the state is asking voters to approve more bond issues, constitutional amendments, and judicial retentions. Before we say yes, let’s remember that bonds are a form of debt. While they provide immediate funding, they obligate the state to repay this money over time, often with interest. This adds to New Mexico’s long-term financial burdens, which could mean higher taxes or cuts to essential services down the road.
Education and Child Welfare: Funding Without Results
Despite consistent spending, New Mexico ranks last in the nation for both education and child welfare (NM Kids Can). Year after year, billions are allocated with little to no improvement. Rather than approving more bonds, we should demand that the Public Education Department enforce strict accountability measures. Schools should be held to performance standards, with future funding tied directly to outcomes like literacy and graduation rates. New debt won’t solve the core issues in our education system without genuine accountability.
Health Outcomes: Accountability Needed for Real Improvement
New Mexico also performs poorly in health outcomes, placing near the bottom nationally(America’s Health Rankings). Chronic illnesses, substance abuse, and mental health issues remain widespread, particularly in underserved areas. While bond issues might fund healthcare facility improvements, they often lack the oversight needed to ensure that money leads to better care. Funding should be tied to measurable improvements, such as access to primary care, chronic disease management, and mental health services. Without such measures, bonds simply add to our debt without guaranteeing positive impacts.
Crime and Judicial Retention: Public Safety Should Be the Priority
New Mexico suffers from one of the highest violent crime rates in the country, yet we’re asked to retain judges without considering their impact on community safety. The Judicial Performance Evaluation Commission consistently recommends retention, but it’s time to hold judges accountable for crime reduction and case resolution rates. Judicial retention decisions should prioritize public safety, linking retention to measurable improvements in crime and justice outcomes.
Corporate Welfare and the Tax Burden on New Mexicans
Through Industrial Revenue Bonds (IRBs) and Local Economic Development Act (LEDA) funding, New Mexico provides tax breaks to corporations, sheltering them from property taxes and shifting the burden to residents and small businesses. Rather than subsidizing corporate welfare with more debt, New Mexico should focus on reducing the Gross Receipts Tax (GRT) and using existing resources to make our state more attractive to businesses and residents.
A Path Forward: Demand Accountability, Not Continued Debt
New Mexico doesn’t need more bonds, amendments, or automatic judicial retentions. We need financial responsibility, transparency, and accountability. By voting no on these bond issues, amendments, and judicial retentions, we send a message that New Mexicans demand better stewardship of our resources. With the wealth fund and recent surpluses, we have what we need to improve our state without increasing debt. Let’s invest in New Mexico wisely, ensuring that taxpayer money works for everyone.
Ramona Goolsby is a retired medical professional, veteran and citizen of New Mexico concerned about transparency and accountability in Government.