In recent years, New Mexico has become a leader in using cost-benefit analysis to inform policy and budget decisions. The state is part of the Pew-MacArthur Results First Initiative that has helped New Mexico build capacity to do this work. In particular, the legislature is able to produce analyses for legislators — think “consumer reports,” but for public policy — showing which policy options or existing programs have the most bang for the buck.
To learn more, we’re joined by Charles Sallee, the Deputy Director of the Legislative Finance Committee, who has spearheaded the implementation and communication of cost-benefit analyses to legislators and other policymakers.
Web extra: Charles Sallee discusses the other areas, aside from public safety, on which the New Mexico Legislative Finance Committee has focused its cost-benefit analysis. [click here]