Fully fund the Rural Libraries Endowment

This Friday (Jan. 27) is Library Day at the State Legislature. Due to extraordinary revenues for our state in the past two years, there is now an estimated $3.6 billion of revenue that is unallocated. Add to this recurring revenues of $12 billion for FY24. Our state is blessed with these profits, and it is time to fully fund the intentions of past years.

In 2019, the state established the Rural Libraries Endowment Fund on a bipartisan vote. This fund is now $13 million and the governor has asked for $15 million to be added this year. The goal of this fund is to provide $1 million in endowed funds for each of the 50 rural libraries in perpetuity. This means only the interest accrued to the total fund will be distributed annually to each of these small libraries. An estimated $45,000-65,000 will assist each of the 50 small libraries with salaries for underpaid staff and critical needs. To accomplish this goal, the Rural Libraries Endowment needs $37 million added, not the proposed $15 million.

Why is this important? For one, New Mexico survives by these boom cycles, often followed by the bust cycle. This year presents an extraordinary chance to complete many essential goals needed by our state. No worries, there will still be more than $37 billion in state reserves — New Mexico is one of the richest states, especially for our size and population. Secondly, despite this wealth — invested in NYC and other states — the rural areas of New Mexico suffer from low or no opportunities, underfunded education and jobs with below subsistence pay rates. Our small towns are losing people who need to make a living for their families, or just themselves. Thirdly, libraries are connected statewide. When we strengthen our rural libraries, we strengthen the entire system statewide.

Having a ball field, a sports center or a movie theater in our town brings us the best of the world: visions of what’s possible for our youth, connection for our elders, awareness for our citizens. Having a well-funded library supports the original learning plaza. A hundred-plus years ago, wealthy industrialists saw the need to inform and educate Americans in every city and town. Today, we can apply revenues from business taxes, primarily oil and gas revenues, to assuring opportunities and awareness to those who choose a rural lifestyle. Many people are making this choice to leave the traffic of larger cities behind and join the quieter life, a nature-based living in places like Taos. Luckier folks were born here. The vitality of libraries and the salaries for the employees of libraries need to keep up in this 21st century.

New Mexico invests our billions in reserve beyond our borders — enriching big city consultants and projects far away. In contrast, these Special Endowment Funds within New Mexico are how we enrich our own state. Investing in New Mexico first is a good move for our future. If you agree, please contact the governor’s office and our state representatives and state senators. Tell them to put New Mexicans first this time — fully fund the Rural Libraries Endowment. We don’t know how long it will be until the next boom cycle. The time is now.