New Mexico lawmakers reveal a $10.8 billion budget plan, closely aligning with the governor’s recommendations for education and health care funding
Sen. George Muñoz, who’s in charge of the Legislative Finance Committee, said New Mexico is in the best financial shape ever. He’s all about investing in education, health care, and jobs for the future.
This budget is a 5.7% increase from last year, which is about $577 million more. Plus, they’re looking at an extra $3 billion for one-time spending, which includes a chunk for endowments.
Now, this plan is just a tad lower than what Governor Michelle Lujan Grisham suggested, which was $10.9 billion. But Senate Majority Leader Peter Wirth thinks they’re pretty close, which is a good sign going into the session.
Wayne Propst from the finance department mentioned that the governor’s budget came out earlier than usual, giving everyone time to digest it. He’s optimistic about the similarities in both plans.
There are some differences, though. The governor wants a 3% raise for state employees, while the lawmakers are pushing for 4%. They also have different ideas about how much to keep in reserves.
Muñoz pointed out that they’re focusing on long-term goals, not just quick fixes. Rep. Nathan Small added that this budget is about improving lives now and in the future, especially in health care and education.
Wirth emphasized that this budget is a smart investment for New Mexico, especially when you look at neighboring states struggling financially. They’re also planning to tackle behavioral health issues with new funding.
House Speaker Javier Martínez expressed pride in the budget, highlighting its focus on making life better for families and improving access to health care. It’s all about building a safer and more affordable New Mexico.
So, as the legislative session kicks off, this budget is set to guide their discussions and decisions. It’s an exciting time for the state!
