Marina Herrera Director, Development and Communications | Rio Grande Foundation
The Rio Grande Foundation has expressed cautious support for a new legislative proposal in New Mexico, known as the "Children’s Future Act." The bill, introduced during the 2025 legislative session, aims to establish a trust fund for every child born in the state. Upon reaching 18 years of age and graduating high school or earning a GED, each recipient would receive a financial payout.
House Bill 7 does not specify an exact investment amount per child. However, Linda Serrato, the bill's sponsor, indicated that based on a pilot program by an advocacy organization, approximately $6,000 would be allocated at birth. Managed by the State Investment Council, this investment is projected to grow to about $20,000 per individual.
Carter Swanson from the Rio Grande Foundation acknowledged the bill's potential benefits but also highlighted concerns. "The Children’s Future Act has promise; it gives money back to New Mexicans and does not restrict who will get this money," he said. Yet Swanson questioned why more funds are not returned sooner for pressing needs like K-12 education.
Swanson criticized New Mexico's current economic strategy and suggested that more immediate investments could address existing issues such as high poverty rates and reliance on government assistance programs. He argued that relying on government funds might hinder economic progress rather than promote it.
Swanson concluded that while the Children’s Future Act is a positive step, broader reforms are necessary for long-term prosperity in New Mexico.
Information from this article can be found here.
