New Ronchetti ad highlights 8-point economic plan

Lujan Grisham has made economic pain worse

Albuquerque, NM – The Mark Ronchetti campaign for Governor released a new television ad over the weekend contrasting Michelle Lujan Grisham’s failure to improve New Mexico’s economy, while highlighting Ronchetti’s Economic Recovery and Inflation Relief plan.

“Record inflation, and the Governor is making it worse,” says the ad. Lujan Grisham “raised home energy costs, hurting families.” 

The ad points out that while New Mexicans are struggling, Lujan Grisham gave hefty pay increases to her own staff and pushed a California-style fuel initiative that would have raised the price of gas by 35 cents or more.

Lujan Grisham passed her own version of the “Green New Deal” in 2019 that has increased home energy costs for average New Mexicans. A recent report highlighted how MLG’s extremism has hurt New Mexicans: 

“Nearly one-third of New Mexicans couldn’t pay their energy bill at least once last year, and more than 40% couldn’t pay it every month, the report found. The findings come three years after Gov. Michelle Lujan Grisham signed New Mexico’s “mini Green New Deal,” which she promised would lead to greater renewable energy production and reduce costs for consumers.”

See full coverage here: Report: New Mexicans struggling to keep up with rising energy costs.

While her Green New Deal hurt average New Mexicans, the bill helped PNM as it allowed the utility corporation to pass higher costs onto consumers as a consequence of her bill. The ad highlights how PNM maxed out to the governor’s re-election campaign.

Ronchetti recently unveiled an 8-point Economic Plan to turn New Mexico’s economy around. The plan cuts taxes for working families, gets people back to work, and helps small businesses grow. 

The entire ad can be seen here. 

Ronchetti’s 8-point plan includes: 

More money for New Mexico Families

The Ronchetti working families tax cut plan would create fairer and simpler tax brackets so that every family receives a permanent tax cut, with the exception of high-income earners whose top tax rate would remain at 5.9%. The plan also includes a reduction in gross receipts taxes every year of between ⅛% and ½%, depending upon available revenue. 

Oil and Gas Annual Rebate

Every New Mexico would receive $100 for every $1 billion the state receives in oil and gas revenue each year. At current levels, this would amount to more than $500 for every man, woman, and child in New Mexico. Funding would come from surplus dollars and wouldn’t impact existing services.

Level the Playing Field: A Small Business Rescue Plan

Small businesses account for 54% of New Mexico Employment. They’re the backbone of our economy, but our tax code is stacked against them. Ronchetti’s plan levels the playing field between our small businesses and big corporations. Mark’s plan would produce the most significant tax relief and financial help for small businesses in our state’s history. 

Destination New Mexico: Compete for Jobs

New Mexico over-regulates its job creators, stifles innovation, has an uncompetitive tax code, and can be punitive and unfair in its treatment of business. We need to earn a new reputation, one that will allow New Mexico to attract high-wage jobs in growth sectors. 

New Mexico: THE Energy Leader

The promise of a bright energy future will only be realized when we stop tying the energy industry in knots and stop allowing government to pick winners and losers. Radical, special interest agendas should never be placed ahead of the well-being of our economy and should never be used to excuse American consumption of oil and gas from countries like Iran or Russia, as opposed to from Hobbs or Farmington.  

Spending Growth Regulator

Our revenues are simply too volatile over time for the government to continually approve double-digit recurring spending increases. A maximum growth percentage threshold should be put in place to prevent this. 

“Build NOW” Infrastructure Initiative

There are $2 billion in capital appropriations over the past few years that have gone unspent. The work just isn’t getting done. We can create a robust capital projects unit at DFA to drive the completion of infrastructure projects. We also need to identify failing infrastructure systems and work with local communities to prioritize upgrades and replacement. 

Back to Work New Mexico

Our state needs more workers. New Mexico has the 3rd lowest labor force participation rate in the country, with more than 4 in 10 working-age New Mexicans choosing to NOT be in the workforce. We can get New Mexico back to work, make the state more attractive to military retirees, and expand our health care workforce. 

Read the full details of Mark Ronchetti’s Economic Recovery and Inflation Relief Plan.