Bad idea. Texas and AntiTexas would share a common border. The resulting explosion would kill millions.
Tax Pesos? This State is so dependent on Federal money to stay afloat it would be better for the Union to let Mexico have it. Without the bases and the National Labs this place would literally turn into a sink hole.
Cows and horned toads, maybe. And some oil pumps. Maybe a couple of Allsup’s cashiers. Not a very populated border, you see… 
… Brought to you by Carl’s Jr.
This.
Also, just call it “Beans And Corn,” since that’s exactly what every US restaurant chain dumps on a dish before naming it “Santa Fe Style.”
Based on what I’ve seen in Albuquerque, I’ll second Ancient Humanoid and go with “New Methico.”
As for a war on the Texas/New Mexico border, a co-worker once told me he saw a gas station blow up there. Alas, I heard the story many years ago and I can’t ask him for details.
Let’s just rename it as it’s state motto: The Land of Enchantment.
I have very fond memories of New Mexico including my time living in Albuquerque. I think a more pressing issue than renaming the state is educating the other Americans that Albuquerque is not the state capital.
Breaking Badlands
Tacorado
Red Hot Chili Pepper
Heisenberg. And rename Los Alamos “Heisenburg”.
Considering it used to be part of Mexico, and now it’s part of the US, I believe “Old Mexico” or “New America” would be more accurate names for the state.
I’m uncertain if you’re kidding or not.
Um, what? “Chile” pepper. There are no “chili” peppers in NM. And the official state question is “red or green”, to which the correct answer is “christmas”.