Tapping permanent fund is big for NM kids
The N.M. Legislature just had a historic victory when it voted in favor of a constitutional amendment that will unlock funding for early education and K-12 programs across the state. What many don’t know is that this win was one over 10 years in the making. In November of 2022, New Mexico’s citizens can decide what’s best for New Mexico’s children, New Mexico’s future.
If approved by voters, the constitutional amendment would allow New Mexico to tap into its nearly $22 billion Land Grant Permanent Fund to create a revenue stream for early education and K-12 programs, which would undoubtedly change the trajectory of New Mexico’s kids — and New Mexico as a state — for the better. Education, especially early education, has transformational power. It’s time New Mexico reaped the benefits from it.
We applaud the Legislature for its support of this issue, for putting aside politics in favor of New Mexico’s youngest, and for letting the great people of New Mexico vote, for themselves, on this vital matter.
We continue to be encouraged by the dedication of New Mexico’s policymakers when it comes to kids’ education and overall well-being. This includes Gov. Michelle Lujan Grisham, who has been an exceptional champion for children, one who has continually prioritized early education and care. It is undoubtedly the governor’s leadership that paved the way for this momentous opportunity. And for that, we applaud her, as well.
This recent victory is a testament to the tenacity and continued desire of New Mexico’s leadership to prioritize New Mexico’s children. There is still a long road ahead, but the path is now clear. Drawing from the Land Grant Permanent Fund to pay for educational opportunity is an important step in the right direction.
Research overwhelmingly shows that high-quality early childhood education lays the foundation for a child’s cognitive, physical and socioemotional development. According to a recent study conducted by the New Mexico Legislative Finance Committee, the New Mexico high school graduation rate was 6.5 percentage points higher for kids who attended pre-K than the high school graduation rate of kids who did not attend pre-K.
Early education isn’t just the key to the healthy growth and development of our children, but also to New Mexico’s economic success. We must remember that early education and care programs are critical for parents, the workforce, the economy and, therefore, New Mexico’s recovery from COVID-19. In fact, the LFC study also found that there is a $6 return per $1 invested in pre-K. This is an incredibly high return, one that New Mexico’s voters cannot ignore at the ballot box in November 2022.
Seventy-five percent of New Mexico voters support tapping the Land Grant Permanent Fund to pay for early childhood education programs, with overwhelming majority support found in both parties. While it’s clear that now is the time to make long-lasting and sustainable change for our children, we must keep the momentum going. We must continue to shed light on why early education and care is important. Big things are happening for New Mexico’s kids, and this is only the beginning.