Cannabis is Legal – Now Go After Payday Lenders | My opinion
Our state’s trajectory from voting Democratic in the federal election to send two U.S. senators, at least two of three congressional representatives, and five presidential voters to Washington, DC, appears to be the trajectory these days.
Yet when it comes to the majority, Democrats legislating in a state with a chief executive in place, the well-being and financial health of citizens are put aside. Look at what happened to the proposal to cap interest rates on short-term loans in the last legislative session.
It’s hard to imagine how seemingly impossible it must be for individuals to keep up with the usurious rates that payday lenders charge in times of emergency and desperation. Examples of practice in other states are as follows. Louisiana Goes Bold, allowing 780 percent interest plus a $ 30 finance charge; it’s 520 percent in Mississippi and 456.24 percent in Alabama; Texas and Nevada have no caps on the amount their lenders can charge at all. This is what some call “free enterprise”.
This brings us to the recent maneuvers in Santa Fe at the Roundhouse. After the 2021 session ended, Governor Michelle Lujan Grisham announced that she was adamant about adopting legalized recreational cannabis and that she would convene a special session.
Really, Madam Governor? Was this the most important bill in your mind? One argument for the legalized pot is that one of our closest neighbors to the north opened sales in 2014 and raked in millions of dollars in tax revenue. No one mentions spikes in domestic violence, traffic accidents, homelessness and health problems. We will find out later, perhaps when Lujan Grisham is no longer in office and in charge.
A word for the wise. Now that recreational cannabis has passed into the special smoker’s session this week, take a look at what will happen in the future. The big guys, the tobacco companies, have been waiting for years to enter the legalized pot market to recoup lost revenue from cigarette sales. They have registered trademarks. There will be no stopping this scourge.
The governor has harassed lawmakers to legalize cannabis – using Colorado as an example. Remember one thing: To protect New Mexicans during desperate times or at any time from the predatory jaws of payday lenders, also be enthusiastic about maintaining a 36% interest rate cap, anyway. like Colorado and Arizona. It would show real progressive chops.
Environmentalist Richard Bock is a veteran of the United States Army and a 30-year-old resident of Abiquiú. He served on the Rio Arriba County Planning and Zoning Board and enjoys his life with his wife beyond the sidewalks.