Paul Gessing
Session a bust for New Mexico economy

New Mexico House speaker Brian Egolf, upon completion of the 2019 legislative session, said, “We’ve done more in the last 60 days than I’ve seen in the last 10 years put together.” On this point, it is hard to disagree with Egolf. I’d go even further to say that Democrats in New Mexico’s Legislature were disciplined and used their numerical advantage to impose their will on an array of New Mexico public policy issues.

Of course, governing is not just about passing bills. Egolf and his Democratic allies may be very pleased with their work, but how will the policies adopted during the 2019 session impact New Mexico families?

I go through a few of the major pieces of legislation dealing with economic issues below.

* SB 489, the so-called “Energy Transition Act” is a classic case of “logrolling”: placing numerous items in a bill to build support for the legislation. More importantly, the law’s provision that mandates 50 percent renewable electricity by 2030 will have dire impacts on New Mexico electricity prices. A study by Arizona State University estimated that a similar mandate would more than double electricity bills. Those impacts will be fully-recognized over a decade, but the shuttering of San Juan Generating Station will immediately impact the Four Corners.