New Mexico made headlines in 2022 as the first state in the nation to pass a ballot measure amending the state constitution to guarantee funding for early childhood education. The state leadership's intention to make child care affordable for most families in New Mexico was widely celebrated. Not as well known, however, is the story of how a vision for fair educator compensation was central to grassroots campaigns, advocates, and the state's ECE reform strategy. New Mexico's groundwork for reform and the continuing challenges to implementation offer insight at the leading edge of states' efforts to address ECE compensation. To learn more, we spoke with policy experts in New Mexico to understand the political and economic realities for policymakers working on ECE compensation, garnering their insights on the process and on the challenges to implementation. We also spoke with early educators to learn about their experiences with the recent compensation initiatives and their visions for ECE compensation reform moving forward. This case study is informed by extensive background research using publicly available documentation and data as well as interviews with key stakeholders.