In an effort to clean up ethics and campaign finance laws which Governor Bill Richardson (D) has called the "laughingstock" of the country, New Mexico's House of Representatives passed the first of a series of proposals recommended by the Governor's ethics task force. The proposal would put limits on individual and PAC donations to candidates. Another proposal being considered would expand the state's full public financing program.

Currently, New Mexico has a full public financing option available for candidates for the state's Public Regulation Commission, and Albuquerque residents approved a 2005 ballot measure establishing a public financing program for city-wide elections. Governor Richardson has voiced support for expanding the public financing program as part of his drive to improve the state's election and ethics laws.