FOR IMMEDIATE RELEASE 

Thursday, June 26, 2025

PRESS CONTACT 

Bushra Elfarissi

bushra.elfarissi@sto.nm.gov

(505) 819-8887

WATCH: State Leaders Slam Republicans’ Budget As ‘Big Bogus Mistake’

Santa Fe — On today’s press call with Americans for Responsible Growth, state financial leaders responded to the Senate parliamentarian’s ruling that Senate Republicans tried—and failed—to sneak devastating Medicaid cuts into their “One Big, Bogus Mistake” bill. After the ruling confirmed that their attempt to gut essential programs like Medicaid violates Senate rules, the state financial leaders warned that Republicans’ reconciliation bill is a reckless giveaway to the ultra-wealthy that would hurt working families, strain hospitals, and make life more expensive for everyone else.

As Donald Trump and his allies race to ram this reconciliation bill through the Senate before Independence Day, New Mexico Treasurer Laura M. Montoya, Washington Treasurer Mike Pellicciotti, and Maryland Comptroller Brooke Lierman convened a press conference to expose how these draconian cuts will deepen our affordability crisis—driving up housing, college, and electricity costs—and force working families to shoulder higher taxes while showering billionaires and big business with new breaks.

Speakers condemned the proposal as a full-scale assault on everyday Americans and urged senators from both parties to reject this handout to the powerful and well-connected.

“The GOP proposed budget bill threatens to gut key parts of the Inflation Reduction Act, and in doing so, it threatens New Mexico and our nation's clean energy future. That's not just bad politics, it's bad economics, bad foresight, and bad for out communities’ future. New Mexico's Clean Energy sector is booming. In 2023, New Mexico ranked #1 in energy efficiency jobs growth rate…Today, New Mexico's clean energy sustains over 13,000 jobs and that figure continues to grow. We're not just participating in the clean energy economy, we're leading it,” said New Mexico Treasurer Laura M. Montoya. “Eliminating or even weakening these provisions, makes the inevitable shift to clean energy more expensive for small businesses, while raising energy prices and killing jobs in the process. Without these provisions, low-income communities and public institutions would be shut out of the clean energy transition entirely, slowing our overall progress toward a cleaner and more equitable future. And even beyond economics or energy source reliability, our health depends on the shift to clean energy. It means clean water, clean air, healthy communities, and a livable planet for our children, grandchildren, and future generations.”

Treasurer Montoya Timestamp: minute 9:00 – 14:58

To book an interview with Treasurer Montoya, please email bushra.elfarissi@sto.nm.gov.

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