RGF on KOAT Channel 7: SB 268 is Welfare for College Sports

At the Rio Grande Foundation we have watched as money has been poured into colleges and universities with no accountability and for little to nothing in terms of real results for our broader economy. Now, with massive subsidies in place and “free” college the law of the land, some legislators in Santa Fe have introduced SB 268 which would allocate $2.5 million to each of New Mexico’s “major” universities (UNM and NMSU).

While Sen. Maestas (the sponsor) claims it would be funded with “free” money thanks to the oil and gas industry, the reality is that New Mexico’s Legislature is doing NOTHING to return tax dollars to everyday New Mexicans. Thankfully, KOAT’s story includes some back-and-forth on what should be done with the money. RGF believes it should be tax cuts (including reform of the GRT and income tax reduction) but we’d take whatever we can get at this point.

RGF’s president Paul Gessing sat down with KOAT Channel 7 to discuss whether spending tax dollars to pay UNM and NMSU athletes more directly is a wise move. Click the photo below or click here to watch the story.