Wednesday, February 16, 2022Workers Win One: Lawmakers Slashing Payday Loan Rates; Years-Long Battle Ending With 36 Percent Cap; State's Top Lobbyists Take Rare Loss, Plus: Primary Juices Starting To Flow And New State Rep Gets Some Scar Tissue The bill, already approved in the House, passed the Senate 19 to 8 Tuesday night. After a few minor tweaks at a House-Senate conference committee the bill is expected to win final approval before the 30 day session adjourns at noon Thursday. Under a last minute amendment pushed by the industry, the new rate will take effect next January. One of our Senior Alligators at the Roundhouse reports: The industry insisted on keeping the 175 percent rate and that blocked any compromise that would lower the rate less dramatically. Maybe their previous successes made them overconfident. It was 2017 when the rates were lowered to 175 percent and since then the battle has been on to get them to 36 percent. Before '17 interest rates of over 500 percent were common. The two year long pandemic has been especially hard on the working class who rely on the loans and that has not gone unnoticed. Also, 60 percent of the payday stores are within ten miles of Native American lands, a fact that has generated more empathy during these virus years. The downside of the measure (HB 132) is the possible loss of jobs as some of the corporations could pull up stakes here. Well-heeled lobbyists such as Raymond Sanchez, Dan Najar and Vanessa Alarid have been in the fore of this fight and have some major wins, but when the tide of history rolls in. . . well. . .it rolls in. The bill is sponsored by Reps Herrera, Egolf, Garrett, Anderson and Ely, with Senators Duhigg and Soules also carrying the ball for what will be a highlight of the '22 session. PRIMARY JUICES FLOWING
Joe, the claim that Rep. Roger Montoya surprised the voters of district 40 by winning in 2020 is far from the truth, the voters elected him with a landslide victory. Roger is a CNN Hero who is recognized for his work with young people through the non-profit he and his partner built from the ground up: Moving Arts Española.
He is a great fit for the district and authored legislation that became known as the Rural Economic Development Task Force. I would not count him out. His challenger, former state Rep. Joseph Sanchez, saw a shiny object [unsuccessfully running for Congress] and left the people of District 40 behind. Rep. Susan Herrera is the founding director of the LANL Foundation and is well known in her district. Before seeking public office, she authored legislation limiting the interest rates by payday lenders and was part of a group of leaders who authored the broadband legislation that created a state agency geared towards Broadband. Rep. Herrera beat a well known incumbent. A challenger should think twice before running. Rep. Kristina Ortez is the Executive Director of the Taos Land and Trust and is an advocate of renewable energy and farming methods that save water. By teaching the next generation of young individuals about the concept of farm-to-table and the economic opportunities it provides will allow for culture and tradition to thrive well into the future. She is a Representative of what Taos looks like today, and is a leader prepared to get jobs finished without any nonsense. We didn't mention the expected Dem primary challenge to two-term Santa Fe area Rep. Andrea Romero but our reader/analyst did: Rep. Andrea Romero has become a seasoned Legislator. Last year she was one of the primary authors of New Mexico’s marijuana decriminalization. She and Sen. Leo Jaramillo have been working to address policy regarding affordable housing, rental reform, and investment. Rep. Romero was appointed as the parliamentarian in the House this year and is about to finish law school at UNM. She too beat a well-know incumbent in a tough race. Those who underestimate her ability don’t understand the type of person she is. She has deep roots in the North and is well-liked by her constituents. All 70 state House seats are up for election in November. Much of the Northern action will be in the Democratic primaries because Republicans are not competitive in most of the districts. Here's the official proclamation for this election year from the SOS, showing county by county all the offices on the ballot across the state. FIRST SESSION SCARS
Herndon was author of a bill that would have clamped down on parents who leave their guns unattended and/or accessible to children. The measure received much publicity because that's how authorities believe the 13 year old who is charged in last year's killing of 13 year old Bennie Hargrove, a fellow student at ABQ's Washington Elementary School, managed to get a gun. The bill did not make it through the session and a wounded Herndon released a statement about it and in doing so gave the Speaker of the House a jab: I am sad to announce the bill was tabled. I remain proud of our efforts and the visibility we brought to the issue of gun deaths of minors, which is the number one cause of death for children in New Mexico. . .I will continue to champion the ideals this country instilled in me, to stand up for the safety and security of our communities. . .The bill was tabled by the House Appropriations and Finance Committee. It was noted by Chair Patricia Lundstrom that she was surprised the bill was in her Committee because it had no appropriation, nor financial impact. The Speaker of the House Brian Egolf assigned House Bill 9 to the Committee. Herndon could have used the boost. She is running for election to her ABQ NE Heights district that the R's promise to make competitive. This is the home of New Mexico politics. E-mail your news and comments. (newsguy@yahoo.com) Interested in reaching New Mexico's most informed audience? Advertise here.   (c)NM POLITICS WITH JOE MONAHAN 2022 |
  |
