A councilor who represents some of the most impoverished areas of the city wants to use recreational-use cannabis tax revenue to implement a basic income program for her constituents.
Councilor Nichole Rogers who represents the International District said she wants to use revenue from the Albuquerque Marijuana Equity and Community Reinvestment Fund for a Guaranteed Basic Income pilot program.
“[Cannabis tax revenue] is a stream of revenue that will always be there,” she said.
Guaranteed basic income is essentially a monthly stipend given to a specific community that usually lasts a year. Not to be confused with universal basic income, a cash payment that all people receive regardless of their income.
Rogers said the pilot program is still in the idea stage. The amount of the stipend and who is eligible has not been decided but Rogers said she would “like to see us focus on families with kids.”
Rogers also said Keller — who is part of Mayors for a Guaranteed Income — and his administration “really understand this is something we need to do.”
The ordinance that created the reinvestment fund was approved last year and states that tax revenue generated by legal, recreational marijuana sales will be directed to the fund for the “benefit, health, safety, welfare and quality of life for those who have been negatively impacted by the criminalization of marijuana.”
The city averages $2.8 million per year in cannabis tax revenue, according to the ordinance. It also states the money from the fund can go toward basic income programs because the programs will be “empowering individuals to meet their basic needs and make decisions that go beyond merely surviving and instead enable thriving.”
From February 2022 to February 2023, New Mexico pursued a Guaranteed Income Pilot Program for Immigrant Families that provided 330 mixed-immigration status households with $500 monthly. A report on the program showed increases in employment and decreases in unstable work schedules for the families.
After seeing the success of the statewide pilot program, Rogers knew she wanted to make basic income available to more families and researched other successful pilot programs in cities such as Santa Fe.
Santa Fe launched its Learn, Earn, Achieve Program to provide $400 a month to young parents enrolled at Santa Fe Community College.
Rogers recounted the story of a student who was able to purchase a car with the additional income and because of that, was able to get a higher-paying job.
“Guaranteed basic income is more targeted toward folks to help them out of poverty… I really want to make sure that [the] Guaranteed Basic Income pilot happens,” Rogers said. “We have a lot of economic development for business owners, this is for the average person and we need to empower them financially too.”
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