Governor signs $7 billion budget plan
SANTA FE — After years of budget austerity, New Mexico is tapping an oil drilling boom to fuel a massive spending increase.
Gov. Michelle Lujan Grisham signed into law Thursday a $7 billion budget plan that will boost state spending levels to an all-time high – with most of the additional funding going to public schools – and give the largest pay raises to state workers in more than a decade.
It will also provide a big cash infusion for the state’s aging road system and allow for long-vacant jobs across state government to be filled.
“Our budget is thoroughly responsible and yet bold in ways that will significantly boost New Mexico families,” Lujan Grisham said Thursday. “As we begin the essential work of rebuilding our economy, education system and government, this budget provides a solid foundation, with healthy reserves, well-earned raises for diligent workers and sizable investments in our children, families and their quality of life.”
Read more: https://www.abqjournal.com/1299718/gov-lujan-grisham-signs-7-billion-budget-tax-package-into-law.html