
New Mexico legislators consider how to use multibillion-dollar oil surplus as spending plan advances
Fox News
NM lawmakers advanced a budget proposal that would set aside money for long term investments, opening a literacy institute, and compensate farmers when wolves kill livestock.
Advancing on an 11-0 committee vote, the amended budget proposal would increase annual state general fund spending by roughly 6.8%, to $10.2 billion, for the fiscal year that runs from July 2024 through June 2025.
Proposed changes from the Senate add $32 million to the spending package, setting average public salary increases at 3% for state employees and staff at K-12 schools, state colleges and public universities.
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