As the 60-day legislative session in New Mexico approaches, state lawmakers are faced with deciding how to handle a massive budget surplus of $892 million. The surplus is largely due to the booming oil industry in the state. Some lawmakers see this as an opportunity to save and invest wisely, while others are pushing for increased spending in areas such as education, healthcare, and childcare. State agencies are already requesting budget increases to address various needs.
The debate over how to use the surplus continues, with some lawmakers advocating for tax cuts to provide economic relief to New Mexicans. Others argue that the surplus should be used to make strategic investments in key areas to benefit the state’s residents. The 60-day legislative session is set to begin on January 21, and the state budget will be a major topic of discussion during that time. Updates on the ongoing conversations around the budget surplus and how it will be allocated will be provided as the session progresses.
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