Brad Close President | NFIB New Mexico
Brad Close President | NFIB New Mexico
Lawmakers in New Mexico are set to review a proposal on the low carbon fuel standard (LCFS) that could potentially increase energy costs for residents and small business owners. The House Transportation Infrastructure Revenue Subcommittee will hear a presentation on the LCFS today.
Ahead of this meeting, Jason Espinoza, State Director of the National Federation of Independent Business (NFIB), has voiced opposition to the proposal. Espinoza stated, “Despite our state’s access to abundant natural resources, a recent study found that nearly a third of New Mexicans couldn’t pay their energy bill in 2021. Similar proposals passed in other states have added roughly 20 cents to the price of every gallon of gas sold. With prices continuing to escalate for local job creators and hardworking families, now is not the time to raise energy costs. We’re asking lawmakers to reject this tax hike and work toward stabilizing Main Street and our economic recovery.”
The concern arises from data showing that high energy costs have led nearly 20 percent of New Mexico respondents in a HelpAdvisor study to maintain unsafe or unhealthy home temperatures. Additionally, an NFIB survey highlights inflation and labor shortages as ongoing challenges for small business owners.
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