Thursday, April 07, 2022New Mexico Goes Alaska? This Week's Rebates Could Be Just the First Round As Oil Surplus Builds
Since 1982 Alaska, rich in oil revenue like New Mexico, has been distributing annual checks to all its residents from an oil wealth fund. Those checks have ranged from about $1,000 to a bit over $2,000. At Tuesday's special session nearly $700 million in cash rebates and payments were approved with single NM taxpayers getting $500 and joint filers $1,000. On top of that the regular legislative session approved rebates of $250/$500 for middle and lower income households that will go out in July. Like Alaska, the largesse here was made possible by mammoth surpluses from the oil and gas industry and it's certainly something New Mexicans could get used to. With experts forecasting the oil gusher to continue in the SE Permian Basin of the state for years to come and creating an even bigger pile of surplus dollars, the politics of distributing some each year could be hard to resist. Today each legislator prizes capital outlay dollars they are awarded each year and that they designate for projects in their individual districts. An annual rebate check could be another well-received perk for them to dole out. There is the argument, however, that with the state ranking 50th in many important indicators, that the surplus should be harvested and aimed at the deficiencies, not handed out like welfare A good deal of it already has been put to use but with surplus dollars now numbering in the billions--even after this week's distribution plan--regular disbursal of the excess could become a habit--just as it has in our frigid neighbor to the north. BLOWING IN THE WIND  Joe,
How absurd was the override of the Mayor's veto on plastic bags? Those city councilors, especially Councilor Bassan should be ashamed. We need more plastic bags blowing in the winds throughout Albuquerque, eventually getting stuck in trees? That's what we will get! Our city is trashed enough and plastic bags just contribute to it. It takes 10-20 years to a plastic bag to decompose. Also, with all the profits being made by the national food chains, due to inflated food prices, ie. Smith's, Albertsons, and Walmart, you would think they can afford to pay for paper bags and if they did why would some of them charge $.05 a bag. And don't get Ken started on the price of gas. Thanks for stopping by this week 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 |
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