Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Rainy day fund benefits from New Mexico oil boom
SANTA FE — New Mexico’s revenue boom is pushing more money into a “rainy day” fund created in 2017.
The tax stabilization reserve — an idea championed by the late Rep. Larry Larrañaga of Albuquerque — is expected to take in about $123 million this fiscal year and another $147 million next year.
New Mexico’s revenue boom is heavily dependent on the volatile oil industry, so the rainy day reserve is way to ensure the state automatically saves some cash when times are good.
https://www.abqjournal.com/1256468/rainy-day-fund-benefits-from-nm-oil-boom.html