In addition to substantial early learning wins of over 210 million additional dollars in funding for child care, PreK, home visiting, and other programs for New Mexico’s youngest children, state legislators introduced and passed important family economic security bills this session. These include:
- 10 million dollars appropriated to increase maximum TANF benefits by 15%;
- An income-based Child Tax Credit increase of up to 600 dollars per child. A total of 350,000 children will benefit from the change which will also provide 12 million dollars in economic opportunity to Native American families;
- A one-time tax rebate of 500 dollars to single filers and 1,000 dollars to married couples; and
- Bipartisan legislation that will provide an estimated 37 million dollars in funding to the New Mexico Housing Trust Fund this year, which is administered by the state’s housing agency, the New Mexico Mortgage Finance Authority (MFA). The funds will help MFA finance the construction and preservation of thousands of affordable homes for New Mexicans with low-and-moderate income.
Ensuring family and community-level economic security is fundamental to creating an environment in which young children thrive, laying the groundwork for our next generation. With each of these steps, New Mexico policymakers are bringing families one step closer to the security they need to provide the best foundation for their babies.
To learn more about innovative policies and programs that promote economic security for families with infants and toddlers, check out ZERO TO THREE’s report, Pathways to Prosperity: Report from a Convening on Economic Security for Families With Infants and Toddlers.
