New Mexico – The Democratic Party of New Mexico (DPNM) released the following statement after the Republican Governor Martinez vetoed important revenue increases:
“Democrats took the lead right out the gate to restore higher education funding and worked on solutions to ensure students and our communities have certainty to move forward. But the Martinez-Sanchez administration continues to put our state’s economy at risk. And the Governor’s action today only shows that she’s willing to put political ideology ahead of our state’s economic future,” said DPNM Chair Richard Ellenberg.
The Governor Martinez’s vetoes leave New Mexico with virtually no reserves, making the state vulnerable to a credit downgrade. This year Moody’s Analytics, a firm that rates credit, sent a warning to other states when the Republican Kansas Governor vetoed important revenue increases and gave them a negative credit rating.
A lower credit rating leads to a waste of taxpayer dollars by increasing the cost of important infrastructure projects that lead to economic development and opportunity.