New Mexico lawmakers to get revenue update

Created: 08/25/2014 7:11 AM
By: The Associated Press

SANTA FE, N.M. (AP) - New Mexico legislators are to receive a new revenue forecast that will help shape the debate over spending in next year's state budget.

Top officials in Gov. Susana Martinez's administration will outline the revenue projections Monday to the Legislative Finance Committee during a meeting in Las Vegas.

The report will estimate how much revenues are expected to grow next year, providing money for spending increases on programs and services. The Legislature meets in January to work on a budget for the 2016 fiscal year, which starts next July.

This year's budget calls for the state to spend almost $6.2 billion on public education and general government programs, an increase of 4.6 percent from a year earlier.

Economists for the Martinez administration and the Legislature prepare the state's revenue forecast.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Photo: MGN

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