All posts by pdacnm

New Mexico Public Bank Legislation: What You Need to Know

The time has come for New Mexico to make the bold step of taking control of its own state finances. New Mexico loses up to half of the money it spends on debt service in interest payments to big banks. Let’s bring that money home by creating a public bank.

A public bank is a financial institution owned by the state of New Mexico that finances
New Mexico infrastructure projects and small businesses, clean energy, affordable housing, and many other economic development projects that need Local Economic Development Act (LEDA) loans, through participation loans with community banks and credit unions. The LEDA loans can be enhanced with public bank loans to support local economic development. Instead of selling bonds to out-of-state banks and investors, a public bank can replace the need for the issuance of bonds and help New Mexico by bringing the debt service payments back to New Mexico, as public bank income, and offering lower interest rates. A simple $50 million in capital can generate as much as $500 million in funds to leverage the projects we need.

Download and read the complete legislative proposal here.



At our July Community Gathering more than 30 progressives from around Albuquerque recorded messages for Rep. Deb Haaland about the progressive issues we want her to champion for the DNC Platform.

Rep. Haaland in the ABQ Journal on June 24, “She said she was looking forward to ‘bringing my progressive values and crafting our party’s platform, and paying attention to urgent issues like climate change, health care and criminal justice reform that we’ve seen protested about across our country the past couple of weeks.’“

About the DNC Platform:  CD1 Rep. Deb Haaland was been appointed to the 15-person Democratic National Committee Platform Drafting Committee by DNC Chairman Tom Perez. This 15-person Platform Drafting Committee is responsible for developing and managing the process through which the Democratic Party’s National Platform is established. According to DNC rules, the members of the drafting committee are appointed by the DNC Chair.

Our online program focused on issues about Bringing Broadband to the Native Nations with special guest Dr.  Maggie George; and PDA Planning Committee Speakers who highlighted the following:

·         Ending police violence and the Movement for Black Lives – Karen Bentrup

·         Immigrant Rights  – Kathleen O’Malley

·         Medicare 4 All – Amy  Antle

·         Climate Crisis – Ted Cloak

·         Voting Right  – Paul Stokes

·         Ending Wars and Occupations and Bringing Peace – Sally Alice Thompson

With signs and issues ready to announce, Sharla Parsons (DPNM Chair of the State Platform and Resolutions Committee) kicked off the recordings followed by more than 30 participants. Herb Hoffman concluded our program leaning into Rep. Haaland’s commitment to her values that honor and care for the people. THANKS EVERYONE for telling Rep. Haaland what we progressives want in the national platform!