New Mexico assigned nearly $19 billion in federal aid so far

SANTA FE, N.M. (AP) — A new estimate shows that successive rounds of federal economic relief since the outset of the coronavirus pandemic will deliver an estimated $18.9 billion in money and services to New Mexico.

The Legislature’s budget and accountability office published the estimate on Monday.

A broader analysis will be presented to lawmakers later this week.

The aid to one of the nation’s poorest states dwarfs New Mexico’s annual general fund spending of $7.4 billion.

The tally of federal aid includes supplemental unemployment benefits, forgivable loans to businesses to support payroll, payments to healthcare providers, support channeled through the Federal Emergency Management Agency and more.