The Santa Fe New Mexican recently featured an opinion piece discussing the "Children’s Future Act," also known as House Bill 7. The bill, introduced during the 2025 legislative session, proposes establishing a trust fund for every child born in New Mexico. Upon reaching the age of 18 and completing high school or earning a GED, each individual would receive a financial sum.
Linda Serrato, the bill's sponsor, noted that based on pilot program data from an advocacy organization, approximately $6,000 would be allocated per child at birth. Managed by the State Investment Council, this investment is projected to grow to about $20,000 by the time of distribution.
Carter Swanson from the Rio Grande Foundation expressed support for the bill but highlighted some concerns. He questioned why more funds are not returned sooner to address pressing issues like K-12 education. Swanson pointed out that significant amounts are spent annually per student in Santa Fe and Albuquerque.
Swanson also critiqued what he perceives as a scarcity mindset within New Mexico's government and population. He argued that holding money in reserve suggests distrust in citizens managing their futures and criticized reliance on government solutions for prosperity.
He advocated for investing in economic freedom to empower New Mexicans to build prosperity independently rather than depending on government interventions.
Carter Swanson is affiliated with the Rio Grande Foundation, an organization focused on promoting limited government and economic freedom in New Mexico.
