New Mexicans Propose Alaska-Style Payday

With New Mexico awash in oil and gas money, many activists and state legislators are looking for ways to spend the extra hundreds of millions.

Gov. Bill Richardson, who says the state is looking at $1.1 billion in additional revenue over the next five years — much of it oil and gas money — wants to spend some of that money on children and public education. He has declared 2006 the Year of the Child and says government should pay teachers more, immunize all children, expand early reading and math programs and ensure that all children have a healthy breakfast every school day.

But some are suggesting New Mexico do what Alaska does with a good portion of its oil, gas and mineral revenues: Give it back to taxpayers.
New Mexico Business Weekly