NM House narrowly approves $5 billion state budget

-A A +A
By Barry Massey

SANTA FE, N.M. (AP) — The House narrowly approved a proposed budget on Wednesday that cuts state spending by nearly 3 percent next year and uses savings from public employee pensions and film subsidies to balance the financing blueprint for public education and government programs.

The measure allocates $5.4 billion in the fiscal year starting July 1. That's about $155 million or 2.8 percent less than this year, when New Mexico used nearly $380 million in federal economic stimulus money for health care and education. The federal aid has disappeared, forcing lawmakers to trim spending to balance spending and anticipated revenues next year.

"We did the best we could with the available revenue we had," said Rep. Henry Kiki Saavedra, an Albuquerque Democrat and chairman of the Appropriations and Finance Committee.

The proposed budget is about $18 million lower than spending recommendations by Republican Gov. Susana Martinez.

Lawmakers did not rely on tax increases in the budget but they assumed about $110 million in savings from pension fund changes and $25 million in extra revenue next year by capping subsidies for film production in the state. Separate legislation must be enacted to implement those changes.

If you subscribe to the newspaper, you receive FREE access to all the exclusive content of the web site! Simply register to receive uninterrupted access to our award-winning and in-depth local online content!

Renew Current or Past Subscription / Register for Online Subscription

If you currently subscribe or have subscribed in the past to the Los Alamos Monitor, then simply find your account number on your mailing label and enter it below.

Click the question mark below to see where your account ID appears on your mailing label.

Newspaper Acct. ID:
Street Address:
(exactly as it appears on the label)

If you are a subscriber and you do not know your account ID or don't have a copy of your newspaper available that shows the information on the address label you can click continue below to search for your account.

New Subscription/30 Day Free Trial Account

If you are new to the award winning Los Alamos Monitor and wish to get a subscription or simply gain access to our online content then please enter your ZIP code below and continue to setup your account.

ZIP Code:

Create a limited access account.
Register to participate in community forums, post on the community calendar, blog etc. This registration does not give you full access to read our award winning content, etc.

The Los Alamos Monitor | lacirculation@lamonitor.com | 505-662-4185
256 DP Road, Los Alamos, NM 87544
Office Hours are 8:00 a.m. to 5:00 p.m., Monday through Friday