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New Mexico's Oil Windfall Debate | US News
New Mexico’s oil windfall is turning into a $75 billion sovereign wealth fund, poised to become the nation’s largest by 2030—thanks to a 2023 law and soaring oil prices. With $2.6 billion ready to be distributed this year, lawmakers are split: the governor wants $250 checks to help with gas prices, while Republicans push for a full income tax repeal. Both gubernatorial candidates urge caution, favoring long-term planning over immediate rebates. The real debate? How to spend the new cash—not the already-protected billions that already fund a third of the state’s future revenue. Listen in…
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