House Labor and Economic Committee Recognizes Importance of NAFTA
Santa Fe – Yesterday, the House Labor and Economic Development Committee recognized the importance of the North America Free Trade Agreement (NAFTA) by passing a memorial introduced by Rep. Nathan Small (D-Las Cruces). The introduction of HM 86 comes after the current federal administration has expressed their desire to pull out of the agreement, a decision that would have negative impacts on New Mexico’s economy.
“We have made great strides expanding exports, particularly with Mexico. Despite the threats to this agreement by the federal administration, we must defend the thousands of New Mexicans working in industries whose jobs are based on trade,” said Rep. Nathan Small.
The memorial would request that the United States government commit to protecting the current investments in the agreement as it negotiates with Mexico and Canada to change the agreement.
New Mexico has experienced three hundred fifty percent growth in international exports to Mexico and forty-five percent of New Mexico's current international export trade is with Mexico. More than ten thousand jobs in the state are directly tied to NAFTA. The memorial is also sponsored by Rep. Larry Scott (R-Hobbs).
House Democrats recognize that New Mexico’s border with Mexico is an economic strength and will continue to support policies and legislation that ensure communities can benefit from their unique strengths.
HM 86 now heads to the House Floor for consideration.