Winning the race to the bottom

Download this fact sheet (Sept. 2018; 2 pages; pdf)
This fact sheet is part of our Roadmap to a Stronger New Mexico initiative. Find out more and sign up for email alerts here.

What We Did

We engaged in 15 years of failed tax policies that prioritized cutting taxes for special interests over investing in our people. We didn’t gain any jobs, but we spent:

  • 2003: $500 million per year in tax cuts that went overwhelmingly to the richest
  • 2013: $200 million in tax cuts that especially benefited out-of-state corporations
  • 2003-2018: Hundreds of millions in gross receipts tax breaks to the well-connected

Where it Got Us

Tax cuts for the well-connected made our tax system less fair, starved essential programs of revenue, and increased our reliance on boom-or-bust oil and natural gas revenues.

  • 35%1 cut to higher education
  • Up to 50% increase in tuition
  • 12% per-pupil cut to public education
  • Dropped to 50th in child well-being
  • Dropped to 50th in child poverty
  • At or near the highest unemployment with the worst job growth in the nation
  • $400 million cut to health care
  • Dismantled behavioral health care system
  • Thousands fewer kids served by child care
  • More than $1 billion drained from various state funds

Sources
1. Percentage cuts are inflation-adjusted numbers using 2008 as a baseline

Download this fact sheet (Sept. 2018; 2 pages; pdf)
This fact sheet is part of our Roadmap to a Stronger New Mexico initiative. Find out more and sign up for email alerts here.