In a large skillet over medium-high heat, cook the ground beef, onion, and bell pepper, stirring frequently until the beef is browned and crumbled and the vegetables are softened, about 8 minutes.
Drain any excess fat from the skillet.
Stir in the diced tomatoes and chiles, water, rice, taco seasoning, and salt to taste. Bring to a simmer.
Cover and reduce heat to medium-low. Cook for 15 minutes, stirring occasionally to prevent sticking. (The rice should absorb most of the liquid during this time.)
Remove the lid and continue cooking for another 15 minutes, stirring occasionally, until the rice is tender and the liquid has been absorbed.
Remove from heat and arrange the lettuce, green onions, diced tomato, avocado, black olives, and cheese over the hot rice mixture.
Stand tortilla chips around the edge of the skillet and serve immediately with salsa on the side.
While this isn't traditional Mexican cooking, it's the kind of Tex-Mex comfort food that has its place. For a more authentic touch, consider making fresh corn tortillas from nixtamalized masa instead of using store-bought chips.
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