Keep the Promise

 

 

The budget deficit gripping New Mexico has been used to justify dramatic cuts to quality education programs, schools and higher education institutions. Our lawmakers’ choices to cut education and services are having a devastating impact on our children’s learning, on parents who rely on a high-quality and well-funded education for their children, and on our communities. In New Mexico, we promise our children a free and high-quality education and affordable access to quality early education and higher education. Education cuts are threatening that promise. We must raise revenues instead of cutting education.

Here’s How We’ll 
Keep the Promise for New Mexico’s Future:

Restore revenues for quality education.

  • Reinstate the 8 percent tax rate on the richest New Mexicans to help fund education. In 2003, New Mexico’s lawmakers cut taxes for the richest New Mexicans at a time when everyone else was suffering the pain of the economic crisis. Our students depend on all of us paying our fair share of state income taxes. As unemployment increases, our lawmakers are cutting education again while the wealthiest continue to benefit from this tax cut. It’s time to reinstate the 8 percent tax rate on the richest New Mexicans.
  • Increase the Permanent School Fund distribution to education and direct funds to early learning. We must increase our investment in education from birth to career so children thrive and find success in school and their lives. The Permanent School Fund is a trust fund that belongs to New Mexico's children, and a critical long-term funding source for the full continuum of their education. Today, the fund is the second largest in the U.S.; it grows by 12% each year. Senate Joint Resolution 10 directs the legislature to ask  voters in 2012 to raise the fund's contribution to education from 5.8% to 7%. This small increase will maintain the funds' solvency by not tapping the principal, and will allow New Mexico -- for the first time -- to invest in the education of its youngest children.
  • Close the corporate loophole to help fund education. New Mexico is one of the few states that does not require Wal-Mart, Lowes, Home Depot, Target, Starbucks and other out-of-state corporations to pay state income taxes on profits earned in New Mexico. New Mexico’s home-owned businesses are required to pay taxes on their profits to fund education. Wal-Mart and other out-of-state corporations should also pay their fair share for the development of New Mexico’s workforce. 

We have joined with other groups asking our legislators to Keep the Promise for New Mexico's Future. Sign our petition which tells lawmakers that we are watching to see if they keep their promise.