Tipping Point New Mexico podcast host Wally Drangmeister said that due to higher capital gains taxes and the gross receipts tax, New Mexico is less favorable for business, relying on "generous" green energy programs and film production tax credits, though he questions if these are the "best" ways to diversify the economy. Drangmeister made his statement in a recent episode of the Tipping Point New Mexico podcast.

"Between the gross receipts tax and now taxing capital gains higher, you meet New Mexico, a less advantageous place to do things," said Drangmeister on the Tipping Point New Mexico podcast. “It doesn't seem like we're the sweet spot for anything from a business point of view except these government-subsidized green energy programs. That's what we have, well, oh yeah, and lest I forget, our extremely generous film and production tax credits.”

“The issue is, are those the best things we can do for our economy?” said Drangmeister. “Are there things that would be better? I would argue that the utility of those two is way down the curve in terms of really helping the state diversify its economy in a meaningful way. But that's where we find ourselves today.”

The latest edition of the podcast covered New Mexico's slow population growth, recent tax changes, and a draft clean fuel standard. It also discussed a rise in RailRunner ridership, Mayor Tim Keller's use of federal COVID funds for raises, 2025 legislative bills, Justin Trudeau's resignation, and former President Biden’s offshore resource restrictions.

Tipping Point New Mexico is a podcast hosted by Paul Gessing and Wally Drangmeister of the Rio Grande Foundation, focusing on public policy issues in New Mexico. The Rio Grande Foundation is a research institute promoting individual freedom, limited government, and economic opportunity to enhance liberty and prosperity for New Mexico residents.

This full episode is available on the Tipping Point New Mexico website and YouTube channel.