KRWG

New Mexico governor supports tapping endowment for education

Jan 11, 2021


  SANTA FE, N.M. (AP) — New Mexico Democrats say they're closer than ever to increasing withdrawals from one of the country's largest endowments to fund education initiatives. Increasing annual payouts from the $20 billion Land Grant Permanent Fund would require voters to approve a constitutional amendment. Gov. Michelle Lujan Grisham says a 1% increase in distributions should be set aside to fund early childhood education. While the withdrawals will decrease future growth of the fund, Democratic legislators argue that the state needs to invest more in education. They say public sentiment is shifting in their favor, and a new crop of progressive legislators can get the needed resolution passed.