New Mexico Senate braces for debate on preschool funding

Feb 9, 2018

SANTA FE, N.M. (AP) — Members of the New Mexico state Senate are bracing for a heated debate about whether to increase funding for early childhood education by distributing more money from a multibillion dollar sovereign wealth fund. An education committee meeting was moved on Friday to a larger venue on the Senate floor to provide room for a large audience. The House has endorsed a constitutional amendment to increase annual distributions from the $17 billion Land Grant Permanent Fund to early childhood education programs. If approved by the Senate, the measure would go to a general election vote in November. Critics say the plan risks drawing too much money each year from a fund seen as a trust for future generations.