A New Mexico Senate committee has endorsed a proposal to boost early childhood education programs by tapping into a multibillion-dollar state investment fund.
The Senate is considering a constitutional amendment approved by the House that would increase distributions from a $17 billion sovereign wealth fund to expand preschool, daycare and home visits by social parents of infants and toddlers.
The Senate Education Committee recommended approval Friday with Democrats in support on a 5-3 party-line vote. It moves next to the Senate Finance Committee where it could encounter opposition from fiscally conservative Democrats.
Opponents of the proposal include GOP Gov. Susana Martinez and Libertarian State Land Commissioner Aubrey Dunn, whose agency channels earnings from oil, gas and mineral leases to the Land Grant Permanent Fund. Approval by the Senate would set up a statewide vote in November. The governor's signature is not required.