FOR IMMEDIATE RELEASE  June 13, 2025 Contact: Bushra Elfarissi (505) 819-8887 Bushra.elfarissi@sto.nm.gov

WATCH: State Financial Leaders Blast Republicans’ Budget, Urge Lawmakers to Vote Against Bill That Would “Put Billionaires Above Babies in Need of Food”

NM Treasurer Montoya: “If this passes, New Mexico will face some of the most severe consequences of any other state in the nation.”

Santa Fe–State financial leaders from across the country condemned theRepublican budget moving through the U.S. Senate, urging lawmakers to reject a bill that would leave millions of seniors, children, and veterans hungry in order to pay for tax breaks for billionaires. Speaking on a press call hosted by Americans for Responsible Growth, the officials detailed how the Republicans’ proposed cuts to nutrition programs would devastate both individual families and state economies from coast to coast, end free school lunch programs, and make the largest cut to food assistance in American history.

At a time when the cost of living and grocery prices are already skyrocketing because of Trump’s economic chaos, the city, county, and statewide leaders on the call warned that Republicans’ devastating cuts would further drive up grocery costs for millions of Americans, increase poverty and food insecurity, and force families to choose between groceries and other basic needs. The Republican budget would eliminate more than $1.3 billion in funding that currently feeds 5.2million women, infants, and children while slashing$300 billion from the Supplemental Nutrition Assistance Program (SNAP) and gut funding for free school lunches that feed more than 18 million kids.

Additionally, the proposal would require states to pay at least five percent of SNAP benefits, 25% in New Mexico, starting in fiscal year 2028, further shifting the financial burden to states.These changes would also cost states billions in lost economic activity while forcing cuts to vital government services to cover budget shortfalls.

“The simultaneous gutting of healthy food accessibility and healthcare coverage for some of the most vulnerable people in my state and across this country is a lethal combination that will lead to suffering and struggles on a massive scale,” said NewMexico State

Treasurer Laura M. Montoya.“This is the definition of cruelty.[...] The America that I believe in doesn't put billionaires above babies in need of food.”

Click here to watch the fullpress call. Treasurer Montoya Timestamp:13:37–19:42

To learn more about congressional Republicans' food assistance cuts and their dangerous implications for America's families and communities, see Americans for Responsible Growth’s fact sheet here.

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 $17.9billion investment portfolio. The Treasurer serves on 13 boards, councils, and commissions with fiduciary responsibility for state funds exceeding $160billion.

2055 South Pacheco Street, Suite 100 & 200 Santa Fe, New Mexico 87505 Phone: (505) 955-1120 FAX (505) 955-1180