Whether Cost Saving Reforms or New Debt, New Mexicans Will Decide the Fate of Millions of Taxpayer Dollars
November 4, 2012
New Mexico’s ballot slate is full this November, with eight proposals that will significantly affect the state’s finances and taxpayers. Santa Fe is requesting over $140 million in new debt through three different ballot initiatives. On the other hand, taxpayers may find relief through three Constitutional amendments that would reform the scandal-plagued Public Regulation Commission.
In the minds of many taxpayers, honest government goes hand-in-hand with efficient government. New Mexico’s citizens many choices between more public debt, and opportunities to improve the integrity and effectiveness of their government.
New Mexico’s key Ballot Questions with a fiscal impact this year, according to NTU’s guide:
- Bond Question A would increase debt by an estimated $10.3 million, nominally for facilities for the elderly.
- Bond Question B would also increase debt, by an estimated $9.83 million to buy more library resources.
- Bond Question C is by far the largest spending item, adding $120 million in new debt to try and improve colleges and special schools.
- On the reform side, Constitutional Amendment 2 would increase the qualifications for future Public Regulation Commissioners.
- Constitutional Amendments 3 and 4 would implement additional reforms to the Public Regulations Commission. Amendment 3 would take the task of chartering corporations from PRC and give it to the Secretary of State; Amendment 4 would remove the Insurance Division.
- Constitutional Amendment 5 would create a Public Defender Commission to keep the office of state public defender free from political influence and corruption.
- New Mexico will also vote on a $1 minimum wage increase.
Stay tuned for more on the major state ballot initiatives this election season, and visit our 2012 Ballot Guide page HERE to find your state’s complete slate of propositions, questions, amendments and more.
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