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The Rio Grande Foundation’s mission can be summed up in two words: “economic freedom.” Everything the organization does is focused on enhancing economic freedom for New Mexicans.
Unfortunately, New Mexico’s standing has worsened in the annual Economic Freedom of North America 2024 index, which was released by the Canada-based Fraser Institute and the Bridwell Center at Southern Methodist University. The state has fallen from 45th place to a troubling 47th.
Under the leadership of Governor Michelle Lujan Grisham and the state’s progressive legislature, New Mexico’s performance has declined across the three key areas that determine economic freedom: taxation, government spending, and regulation. Currently, the state ranks just ahead of California, New York, and Hawaii, with the top-performing states being New Hampshire, Idaho, and Oklahoma.
Economic freedom is strongly linked to improved economic outcomes, including lower poverty rates and reduced inequality. Despite these correlations, New Mexico continues to struggle in providing its residents with the economic freedom needed to thrive.
To explore the full report and see where each state ranks, click here or view the image below.
