[LWVNM Action] NM oil income investments surpass PIT revenue

[Paul Stokes]

SB 26 (2023) already gives a large boost of the input to the Severance Tax Permanent Fund.

Meanwhile, the Fund growth predictions are based on a stupendous increase of oil production, which doesn’t decline and return to today’s levels until about 2050.  By then, our ancestors will all be burned up unless something drastic is done to “leave it in the ground."

> On Dec 11, 2024, at 3:01 PM, Richard Mason via Action <action at mailman.swcp.com> wrote:
> 
> New Mexico's oil income investments now surpass personal income tax revenue | AP News <https://apnews.com/article/oil-savings-investments-new-mexico-e9ece47f7d4280ace45cea300c852fcd?utm_source=National+Conference+of+State+Legislatures&utm_campaign=dd039655f4-Today_Dec_11&utm_medium=email&utm_term=0_-dd039655f4-377886384>
> 
> Look for the legislature to set up new funds and to contribute to existing funds.
> 
> They hesitate to add too much to recurring expenditures because they do not like to cut when revenues slow down.
> 
> They will also focus on one time expenditures.
> 
> Dick Mason
> 
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