Friday, August 15, 2025

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Bushra Elfarissi

505.819.8887

bushra.elfarissi@sto.nm.gov

WATCH: Financial Leaders Condemn Trump's Reckless FEMA Cuts as Natural Disasters Take Their Toll

Elected Officials Warn Mass Firings Leave Working Families Defenseless During Peak Disaster Season

Santa Fe — New Mexico State Treasurer Laura M. Montoya joined three other financial leaders and Americans for Responsible Growth for a press call to condemn Trump and his allies' destructive gutting of the Federal Emergency Management Agency (FEMA). The speakers—Treasurer Montoya, Vermont State Treasurer Mike Pieciak, Minnesota State Auditor Julie Blaha, and Houston Controller Chris Hollins—explained how Republicans' reckless cuts to FEMA are leaving American families defenseless during emergencies, forcing them to bear crushing financial costs and be at the mercy of insurance companies that prioritize profits over people.

Trump's gutting of federal grant programs means no support for families or businesses to recover from disasters, leaving them without help for basic necessities like temporary housing, food, or medical care. Coupled with cuts to other essential programs, such as the Supplemental Nutrition Assistance Program (SNAP) and Medicaid, Americans are being abandoned by their own government at every turn. Dismantling safety nets during times of crisis will only serve to destabilize local economies, strain state and municipal budgets, and shift the burden of disaster recovery onto working families—all while the ultra-wealthy receive tax breaks.

New Mexico State Treasurer Laura M. Montoya Quotes

• "Rather than do the right thing by expanding FEMA and improving federal operations to make disaster relief more efficient and support to Americans, the Trump administration is choosing the worst possible course of action, weakening the National Oceanic and Atmospheric Administration, NOAA, and the National Weather Service, NWS, while threatening to phase out FEMA entirely."

• "The more I see the Trump administration's policies in action, the more undeniable it becomes that they are not just indifferent to American suffering, they are actively engineering it."

• “The manipulation of funds is something everybody needs to be talking about. It is never good to manipulate funds to determine who gets help and who doesn’t based on any type of political values or lack thereof.”

• “I have never witnessed any public office seem so hellbent on making life worse for working-class Americans, yet unfortunately, I have been sounding the alarm on one devastating policy or another nearly every week since Trump took office.”  

• “Without access to accurate weather forecasts and considering that worsening global climate conditions are making extreme disasters more frequent and intense, communities are more vulnerable to natural disasters than ever before.”

Watch the full interview HERE

Treasurer Montoya Timestamps: 1:50 – 7:49

Q+A Timestamps: 24:57 – end

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

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Laura M. Montoya became New Mexico’s first female State Treasurer on January 1, 2023, and the nation’s first elected Latina State Treasurer, bringing the office over two decades of experience in banking, investments, and public policy. Under Treasurer Montoya’s direction, the office manages the state’s $17.9 billion investment portfolio. The Treasurer serves on 13 boards, councils, and commissions with fiduciary responsibility for state funds exceeding $160 billion.