Low Carbon Fuel Standard will drive up energy costs on New Mexico families and small business owners.
ALBUQUERQUE (Sept. 29, 2023) – Today, lawmakers on the House Transportation Infrastructure Revenue Subcommittee will hear a presentation on the low carbon fuel standard (LCFS), which would drive up energy costs on New Mexico families and small business owners. Ahead of the presentation, NFIB State Director Jason Espinoza urged lawmakers to reject the proposal to raise prices on New Mexicans:
“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.”
Background:
According to a study published by HelpAdvisor, nearly 20 percent of New Mexico respondents reported keeping their home at an unsafe or unhealthy temperature due to high energy costs.
A recent NFIB survey found that inflation and the labor shortage continue to be the top problems for small business owners. CLICK HERE to read the full survey.
