SANTA FE – A proposal to increase spending on early childhood education from a multibillion-dollar state trust has stalled in the New Mexico state Senate and appears unlikely to advance this year.
A Senate committee voted 7-4 on Monday to set aside the initiative with fewer than two weeks left in the annual legislative session. The proposed constitutional amendment from Democratic Reps. Antonio Maestas and Javier Martinez of Albuquerque has House approval.
Senate Rules Committee Chairwoman Linda Lopez says it was unlikely that her panel would reverse course.
Advocates for increasing withdrawals from the Land Grant Permanent fund include Democratic Gov. Michelle Lujan Grisham.
Opponents fear the plan would erode investment earnings that have helped the fund grow to $17 billion even as it pays out annual dividends to public schools.
