Think tank proposes stricter ethics rules for NM legislators
Nonpartisan think tank Think New Mexico released a new policy report over the weekend pushing for reforms to the state's legislative ethics laws. It points to loopholes that allow dark money to influence lawmakers and loose restrictions for legislators and lobbyists.
Think New Mexico hopes that tightening these restrictions will help boost trust in state government. Specifically, the think tank wants to improve transparency, prevent conflicts of interest and shine a light on dark money.
The push comes amid a recent flurry of ethics complaints and lawsuits against state lawmakers. Those include kickbacks, embezzlement, favors and unauthorized campaign expenditures.
Think New Mexico will advocate for the reforms during the next legislative session in January.
What to expect following a federal interest rate hike
The Federal Reserve raised interest rates in mid-September and mortgage rates and long-term bond yields have already bumped up as a result. Some are expecting this will be a "one-and-done" interest rate hike, but University of New Mexico finance professor Reilly White thinks otherwise.
"I can't go back in history and find a situation where the Fed rose rates just once," he said. "This will probably be the first in at least one or more different upward changes that the Fed will make in the next coming months to year."
White also expects rising interest to put more stress on the job market due to businesses potentially being more cautious around hiring because of rising interest rates. But he said, there is a silver lining for some.
"On the benefit side of the equation are savers," he said. "Higher interest rates mean better yields on things like savings accounts and CDs and other money market products."
You can find Mary Lou Cooper's full conversation with finance professor Reilly White here.
Despite new rules, New Mexico's orphaned oil and gas wells multiply
Orphaned oil and gas wells that lack a responsible operator or owner to plug and clean them up are multiplying in New Mexico faster than they can be fixed, according to a new report. The state adopted new bonding and cleanup rules this year to hold operators financially accountable before the wells become the state's liability, but one expert says it's a nearly insurmountable task. Public News Service’s Roz Brown reports.
City of Santa Fe faces staffing vacancies
The City of Santa Fe currently has two vacancies that are tied to some of the city's most challenging issues- affordable housing and homelessness.
Affordable Housing Director Faviola Chavez departed in mid September. That was only a month after Lia Azul Salaverry left the Youth and Family Services Director role. Salaverry had been overseeing the city's homelessness strategy since January.
The city faces a severe deficit of affordable housing. The city also has several homeless shelter projects that have faced various setbacks.
Mayor Michael Garcia campaigned on improving the affordable housing supply and addressing homelessness in the city. He told The Santa Fe New Mexican that work on the issues will continue despite the vacancies.
Both Chavez and Salaverry lasted only about a year in their positions. The New Mexican has been unable to determine why the two left their positions.
