FOR IMMEDIATE RELEASE:

Wednesday, April 30, 2025

PRESS CONTACT:

press@focalpointstrategygroup.com Bushra Elfarissi Bushra.Elfarissi@sto.nm.gov

(505) 819-8887

WATCH: State Treasurers Demand Congress Intervene With Trump After 100 Days of Economic Turmoil, Market Volatility, and Rising Prices

10 state financial leaders pen letter calling on Congress to “reclaim its constitutional authority over trade, fiscal policy, and monetary oversight”

Earlier today, after President Donald Trump's 100th day in office, State Treasurer Laura M. Montoya joined Americans for Responsible Growth and four other state financial leaders on a press call to demand that Congress intervene to reclaim its constitutional authority over trade, fiscal policy, and monetary oversight to protect Americans from Trump’s disastrous economic policies. The call comes after ten elected financial leaders from states across the country penned an open letter to Congress calling for immediate action to address what they describe as a looming economic crisis threatening state economies nationwide as a result of the Trump administration’s trade and economic policies.

The state treasurers joining today’s call detailed how Trump’s tariffs and broader economic agenda have created a volatile financial landscape defined by erratic federal policy, rising global skepticism about American stability, and the politicization of institutions that have long served as anchors of economic confidence. The group of state financial leaders urged Congress to reassert its constitutional authority before markets deteriorate further.

Here is what State Treasurer Montoya had to say about how Trump's deeply unpopular agenda is hurting American families, businesses, and economic growth:

• “Strong economies rely on stable governance and reliable market conditions—and we've not seen any of that in the last 100 days. Markets, investors, our foreign partners, and even citizens are now questioning whether our own government can continue providing steady, credible leadership.”
  

• “When Congress abdicates its constitutional powers and duties, it is a reflection of their choice to represent special interests and corporations over people. [...] Members of Congress were elected to their positions of power not to cower in the face of partisan pressure or political convenience but to stand tall, uphold their oaths, and do right by the people that they were elected to serve.”

• “We work tirelessly every day to protect our constituents by maintaining fiscal discipline and investing in our communities—but our efforts are undermined when our own federal government is actively creating obstacles from the top instead of providing constructive support.”
  

• “Chair Powell noted four key policy factors contributing to uncertainty that the Fed was monitoring closely: trade, immigration, fiscal policy, and regulation. Congress needs to do the same by recognizing its role in shaping these dynamics, acting with foresight, and providing the stable, consistent governance that economic confidence demands.”

Treasurer Montoya Timestamps: 13:20 – 18:35

To book an interview with Treasurer Montoya, please email Bushra Elfarissi at Bushra.Elfarissi@sto.nm.gov // (505) 81S-8887.

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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 billion investment portfolio. The Treasurer serves on 13 boards, councils, and commissions with fiduciary responsibility for state funds exceeding :150 billion.