General Obligation Bond C for Education
Why should I vote YES on November 6?
Quality, affordable, accessible Higher Education is essential for the economic health of northern New Mexico and the high quality of life we all enjoy. We must continue to maintain and improve our facilities, especially at UNM-Taos, which has experienced record enrollment in its 10 year history.
Bond C Will Not Raise Taxes. In crafting this legislation it was determined that if the legislature did not use its full bonding potential, there would be no tax increase to property owners. Vetted and approved by Senate Finance Committee (38-0) and House Taxation and Revenue Committee (67-0).
Additional Economic Advantages: GO Bond C will make $120 million available for construction projects throughout the state at a time when the construction industry is hard pressed. This infusion of capital will be disbursed throughout New Mexico in the form of wages that generate income taxes and increased purchasing power for employees; equipment and materials purchases (with attendant gross receipts returning revenue to the state) and job creation, in addition to its primary purpose of providing for the renovation and upgrade of aging college and university facilities.
A Long Track Record of Success: G.O. Bonds are the traditional way that New Mexicans support infrastructure and construction for higher education, rather than direct legislative support. But In 2010, at the heart of the economic downturn, the G. O. Bond for Education failed to pass statewide by a little over 1,000 votes, setting us back two years. Now more than ever, we need to pass GO Bond C in 2012.
Austerity budgets are making it increasingly hard for Higher Education. The legislature has been cutting funding for higher education for the past four years, and aging facilities are suffering.
Some counties such as Taos County may actually take in more than they pay out in taxes. Taos County, for instance, will receive $3 million to improve campus infrastructure and complete Phase I of UNM-Taos Klauer Campus build out.
We’re all in this together. Each individual pays only a small amount per year---roughly $6 per $100,000 assessed valuation--- so that the entire state may prosper. Moreover, with a high incidence of second homes in New Mexico and Taos County in particular, a portion of the burden is not even borne by local New Mexicans and more revenue will come into Taos county ($3M) than goes out.
Supporting higher education improves the entire state. Even those living in counties without higher education facilities benefit from a better-trained workforce and a healthy economy that offers more options to citizens. Investing in our institutions of higher learning keeps our brightest students in New Mexico, creates a more competitive workforce and attracts better paying jobs, all of which positively impact both local and statewide economies.
