Carla Sonntag, President and CEO of the New Mexico Business Coalition (NMBC), said that the organization has achieved several victories, including stopping legislation such as House Bill 11. This statement was made via an email on March 26.
"New Mexico Business Coalition achieved significant victories, including stopping some particularly egregious legislation," said Sonntag. "HB 11 was made far worse in committee, but fortunately, it was killed by the Senate Finance Committee. Some legislators do not appreciate the value of that industry's contribution to the state."
House Bill 11 aimed to establish a state-run paid family and medical leave program, funded by assessments on both employees and employers. The proposed program would have provided eligible individuals with up to six weeks of paid leave for qualifying events. However, Sonntag expressed concerns that the financial burden on businesses could lead to adverse economic consequences.
According to IPA NM, New Mexico's oil and natural gas industry is a significant contributor to the state's economy, providing revenue that supports various public services. In Fiscal Year 2023, the industry generated over $15 billion in income for New Mexico, with $6.6 billion coming from taxes and an additional $8.6 billion from land income. This influx of revenue was driven by increased production in the southeast Permian Basin. Historically, oil and gas revenues have accounted for approximately 25% to 30% of New Mexico's General Fund, which finances essential services such as education and infrastructure. Efforts to impose additional regulations or taxes on this sector have faced opposition from industry advocates who caution that such measures could adversely affect the state's financial stability.
Sonntag, president and CEO of NMBC since its establishment in 2009, advocates for businesses in New Mexico. During the COVID-19 shutdowns, she pushed for a reopening plan and authored legislation to prevent rising unemployment insurance costs, according to ABQ Connect.
