New Mexico's approach to managing its finances is under scrutiny as the state accumulates a significant amount of money in permanent funds. Currently valued at $58 billion, these funds position New Mexico among the top sovereign wealth funds globally, trailing only Texas and Alaska. The Sovereign Wealth Fund Institute acknowledges this standing.

House Speaker Javier Martínez, D-Albuquerque, highlights that this strategy is about future preparedness, especially considering the unpredictable nature of oil and gas revenues. However, Carter Swanson from the Rio Grande Foundation argues that immediate issues such as crime, education, and taxation remain unaddressed despite increased government spending since the oil boom.

Swanson suggests looking towards states like Alaska and Texas for inspiration. Alaska does not impose personal income or sales taxes and distributes a "dividend" to its citizens from oil and gas revenues. Similarly, Texas has experienced rapid growth without a personal income tax.

Swanson questions why New Mexico cannot emulate these models with its available resources. He advocates for using some of the surplus to stimulate economic growth rather than solely focusing on building up permanent funds.

He criticizes the current administration for not providing tax relief despite having sufficient income. Swanson warns against relying too heavily on government funds in the future and urges investment in economic prosperity now to ensure a thriving state later.

Carter Swanson is affiliated with New Mexico’s Rio Grande Foundation, an organization promoting limited government and economic freedom principles.