ALBUQUERQUE ― In New Mexico, as in most states across the nation, investment in public infrastructure remains at lower levels than it did in 2002, even as the economy has rebounded after the recession. That’s according to a new report released by the Center on Budget and Policy Priorities (CBPP).
Lawmakers can fix this by prioritizing new and increased investments in transportation, public buildings, water treatment systems, and other forms of vital infrastructure in order to build a strong economy now and in the future.
“This report makes it clear that while the legislature and governor were wise to invest some of the state’s oil-boom revenue surplus in building our infrastructure, we still have a long way to go,” said James Jimenez, executive director of New Mexico Voices for Children.
Federal infrastructure investment has fallen by half over the last 35 years. This has left more of the cost to state and local governments, but today state and local infrastructure spending as a share of Gross Domestic Product is lower than it has been since the 1950s. And in New Mexico, total capital spending on infrastructure as a share of state GDP has fallen by 0.16 % points between 2002 and 2016.
Source: L.A Dailypost