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politics21h ago
New Mexico politicians grapple with oil windfall from Iran war that's both 'awesome' and awkward
- New Mexico sees an $850 million surge in annual state income, boosting funding for tuition-free college and universal child care.
- Deb Haaland urges using windfall to expand tax credits and supporting low-income families.
- Sam Bregman proposes one-time $500 checks and tax relief for residents under $200,000.
- Republicans press for tax cuts and consider eliminating the state income tax.
- Oil income supports a state nest egg and funds Medicaid, early childhood education, and infrastructure.
- The windfall adds pressure on Democrats who oppose the war to address oil dependence and rising costs for households.
- The governor’s race pits Haaland against Sam Bregman with different visions for how to use the windfall.
- The windfall is tied to oil price changes and the Strait of Hormuz, affecting state revenues.
- State lawmakers see the windfall as an opportunity to fund social programs while managing oil risk.
- The governor’s race outcome will influence how the windfall funds education and health programs.
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