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Government

Montoya vs. Ellison, issue by issue

Where the candidates stand, in their own words, ahead of the Nov. 3 state treasurer's race.

By Duke City Ledger
3 min read ALBUQUERQUE
What the public records and data show, with the sources listed at the end. How we label stories The editor chose this story and directed the research and writing, using AI tools, and checked it before it went up. How we label stories
Laura Montoya in a white blouse, and Jim Ellison in a blue shirt at a ranch gate with wind turbines behind
Laura Montoya, the Democratic incumbent, and Jim Ellison, the Republican challenger. Photo: Courtesy of the State of New Mexico (Montoya) and Ellison for NM (Ellison) · Courtesy

The short version

  • They differ on three issues, led by baby bonds and the treasurer's reports to the Legislature.
  • They agree on none the Ledger could find.
  • We sent both candidates questions on Oct. 15.

Most of what each says comes from a Source New Mexico Q&A and a Santa Fe New Mexican questionnaire. Neither campaign had answered our questions by Oct. 15.

Laura Montoya

Democrat

Incumbent, in office since Jan. 1, 2023. Hadn't answered our questions by Oct. 15.

Campaign websiteBallotpediaVote411

Jim Ellison

Republican

Served on the Public Regulation Commission 2023-2024. Hadn't answered our questions by Oct. 15.

Campaign websiteBallotpediaVote411

Where they differ

Reports to the Legislature

Differ

Montoya

Says reports are presented when the Legislature schedules them; calls Ellison's claim "so wrong"

Source · Source New Mexico Q&A

Ellison

Would deliver on-time, plain-English performance reports with benchmarks; says Montoya missed three years

Source · Santa Fe New Mexican questionnaire

What they said

Ellison says the treasurer’s required report to the Legislature was “not done for three years in a row.” Source New Mexico noted it has a pending records request on that claim. Montoya called it “so wrong,” saying reports are presented when the Legislature schedules them.

Baby bonds

Differ

Montoya

Would introduce baby bonds legislation, calling it a way to strengthen families

Source · Source New Mexico Q&A

Ellison

Calls it advocacy for the Legislature; says the treasurer should focus on what's in its control

Source · Source New Mexico Q&A

What they said

Montoya called baby bonds “a very good way to strengthen our families, our community, our children and our economy.” Ellison said the treasurer “should be more focused on what’s in their control.”

Financial literacy

Same goal, different approach

Montoya

Would push financial literacy as a high school graduation requirement

Source · Source New Mexico Q&A

Ellison

Supports financial literacy through partnerships but isn't ready to back a graduation requirement

Source · Source New Mexico Q&A

What they said

Montoya said high schools requiring it rose from 5% to 67%. Ellison said he’s “just not ready” to back a new requirement.

Only one has said

Unclaimed property

Only Ellison

Montoya

Hasn’t said

Ellison

Would move unclaimed property from Taxation and Revenue to the treasurer's office

Source · Source New Mexico Q&A

What they said

Ellison said “the treasury is a more natural home,” citing $390 million in unclaimed assets with only $18.5 million distributed. The Ledger found no Montoya statement on moving it.

Tariffs

Only Montoya

Montoya

Says consumers bear the cost of tariffs

Source · Source New Mexico Q&A

Ellison

Hasn’t said

What they said

Montoya said, “The burden is on whoever purchases in the United States.” Ellison declined to comment, saying the treasurer has no say over it.

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Where this came from

This story draws on the reporting and public records listed here. Where they differ from this page, go by the original.

  1. Early voting Bernalillo County Clerk
  2. New Mexico Election 2026: New Mexico state treasurer Source New Mexico, via Yahoo News
  3. New Mexico state treasurer candidate questionnaires Santa Fe New Mexican
  4. About the State Treasurer New Mexico State Treasurer's Office
  5. Invests New Mexico's cash and the Local Government Investment Pool. nmsto.gov
  6. Invests nearly $20 billion in state cash. The office reported earning $1.378 billion… nmdfa.state.nm.us
  7. State Treasurer: term sos.nm.gov
Cite this story
APA

Duke City Ledger. (2026, October 16). Montoya vs. Ellison, issue by issue. Duke City Ledger. https://dukecityledger.com/news/state-treasurer-issues/

MLA

“Montoya vs. Ellison, issue by issue.” Duke City Ledger, 16 Oct. 2026, https://dukecityledger.com/news/state-treasurer-issues/.

Chicago

Duke City Ledger. “Montoya vs. Ellison, issue by issue.” Duke City Ledger, October 16, 2026. https://dukecityledger.com/news/state-treasurer-issues/.

Credit and republishing guidelines

#state treasurer#election 2026#laura montoya#jim ellison#voter guide

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