New Mexico Gov. Michelle Lujan Grisham makes recommendations ahead of special session
SANTA FE, N.M. — New Mexico Gov. Michelle Lujan Grisham on Wednesday urged lawmakers to tap state reserves and federal recovery money to preserve some state spending increases, including a 2% pay bump for public school personnel and state workers.
State lawmakers are considering an even smaller pay hike or none at all as New Mexico confronts a harrowing decline in annual state government income linked to the economic fallout from coronavirus pandemic, including faltering local oil production. The Democrat-led Legislature meets next week to rewrite a spending plan for the fiscal year starting July 1.
State government economists on Wednesday revised estimates for state government income downward by $439 million for the current fiscal year ending on June 30 and by just under $2 billion for the coming fiscal year.
Estimated revenues for the coming fiscal year are estimated at $5.9 billion. The budget signed in mid-March would have increased state general fund spending by nearly 8% to $7.6 billion, with 4% pay increases at schools and state agencies.
Read more: https://www.currentargus.com/story/news/local/new-mexico/2020/06/11/new-mexico-governor-makes-recommendations-ahead-special-session/5339880002/
(Carlsbad Current Argus)