Business, Economy, and Revenue Sources
Business, Economy, and Revenue Sources
Every American, especially people of color, women, and other marginalized communities, has the right to a job that provides for adequate food, housing, clothing, health care, recreation, and protection from the economic fears of old age, illness, or accidents. We must ensure adequate resources for future generations to provide equally for themselves. Businesses have the right to operate free from unfair competition at home and abroad. We support a progressive tax system where all businesses and individuals pay their fair share.
We Affirm
Our nation's spending on infrastructure suffered from decades of neglect, resulting in lost productivity, investment, collapse of U.S. manufacturing, and a degradation of our competitive edge worldwide; and
All jobs must pay a living wage; and
Veterans, the technologically displaced, people with housing insecurity, people with disabilities, people with limited transportation options, youth, and the elderly routinely face barriers to employment and economic opportunity; and
Our support for single-payer universal health care because individuals should be empowered to make employment and life decisions that are independent of where they live and where or if they work; and
New Mexico should require that new electrical generating facilities be renewable and advance the date for implementation of the Renewable Portfolio Standards to facilitate New Mexico’s role as a leader in this sector; and
The New Mexico solar energy tax credit must be expanded to include incentives for home installation of solar panels, passive solar, green technology, and water conservation; and
Employers in New Mexico should be supported and incentivized to hire locally; and
Direct job creation should be supported through investments in infrastructure, transportation, renewable energy research, and water conservation; and
That strong economic growth, which provides equal opportunity to all, reduces crime, domestic violence, and substance abuse rates; and
It is a right of all New Mexicans to have a strong safety net of social services; and
New Mexico-owned small businesses should receive preferential treatment with respect to awarding of grants, contracts, and incentives; and
Statewide workforce development, vocational training, and educational programs spur economic development and create jobs in all sectors of the economy; and
A stable state budget, with revenues from diversified streams and industries, will hedge against market volatility; and
That regulation of banks and other financial institutions benefits all New Mexicans; and
That New Mexico should investigate and pursue development of a public banking system; and
Predatory lending is a scourge on the economy and harmful to New Mexicans; and
Privatization of essential government functions and outsourcing of public-sector jobs harms the economy and the people; and
Strong unions and union labor benefit New Mexico, its people, its businesses, and its economy; and
At-will employment and so-called right-to-work laws threaten the power of unions, New Mexico’s workers, their job security, and their right to fair compensation, and the economy of the state; and
Strong and effective state and federal regulation of monopolies and other dominant businesses serves the public interest; and
Support for the use of the Defense Production Act for government-ordered production by businesses of resources and material needed during public health emergencies; and
That adequate investment in programs to prevent the spread of contagious disease, ensure adequate supplies during public health emergencies, and to provide means for all people to practice good hygiene is good for public health, business, and the economy; and
That during public health emergencies government programs are essential to support businesses and the economy; and
Effective government policy during public health emergencies prevents harm to people, stabilizes the economy, and supports labor and business.
We Will
Support business incubator and business development programs statewide; and
Expand training and retraining programs to ensure that all New Mexicans have broad economic opportunities; and
Promote policies that encourage employers to hire locals; and
Foster programs that remove barriers and create a path to employment for the chronically unemployed, including veterans, technologically displaced people, people with housing insecurity, people with disabilities, people with limited transportation options, youth, and the elderly; and
Support and diversify New Mexico’s economy through investment in tourism and the promotion of made-in-New Mexico products and our unique attractions; and
Celebrate and support our state’s multicultural identity, beautiful terrain and wildlife, public lands and monuments, and opportunities for adventure; and
Keep our dollars at home with buy-local initiatives; and
Develop the market for products made in New Mexico or by New Mexican companies; and
Support the formation of a National Infrastructure Bank (NIB) modeled on the four previous nationally chartered public banks to fund the development of infrastructure needed to support a thriving economy while providing good-paying jobs; and
Pursue public banking options to increase state revenues without increasing taxes; and
Support the Taxation and Revenue Department by providing the staffing and funding necessary to ensure that the severance tax and royalties due from natural resources extraction are collected. This should include enacting penalties and interest on companies that have failed to report to the State, whether due to negligence or disregard of rules and regulations; and
Enhance New Mexico’s international economy by promoting fair trade policies with Mexico and other countries. Other examples of these efforts include expanding our aerospace industry, developing global promotion programs, increasing the number of destinations for direct flights, and boosting the exports of renewable energy, technologies, and other products; and
Invest in economic growth in the technology sector through STEAM (science, technology, engineering, arts, mathematics) education, the development and promotion of advanced technology applications, and supporting innovators by teaching information technology and coding in every public school; and
Support government, microloan, and other financial assistance programs to meet the needs of each borrower fairly and transparently; and
Demand the rigorous evaluation by local authorities of algorithms used to determine access to credit, whether they are based on simple scorecards, machine learning, or artificial intelligence methods; and
Demand that the federal and state government stockpile resources needed for public health emergencies and for when there is an acute national security crisis; and
Ensure that during public health emergencies and acute threats to national security the federal government directs businesses to produce resources as necessary to protect and safeguard people, businesses, and the economy, in conjunction and collaboration with state and local government; and
Demand that during public health crises and acute threats to national security, the government subsidizes businesses in order to stabilize the economy and provide for the people; and
Support programs that retrain workers displaced by public health emergencies, acute national security threats, and the transition from a fossil-fuel economy to a clean-energy economy; and
Encourage the Taxation and Revenue Department to refer small business owners to the New Mexico Small Business Administration (SBA); and
Ensure that the New Mexico Small Business Administration (SBA) is fully funded to support the development of small businesses by assisting in grant writing, tax preparation, and other small business incentives.