New Mexico foresees robust growth in state government income

SANTA FE, N.M. (AP) — Forecasts for state government income have increased slightly as New Mexico legislators prepare to meet in January to craft a general fund budget.

State finance officials on Monday told a panel of lawmakers that state income is likely to exceed already robust expectations by at least $28 million for the fiscal year starting July 2022. That adds slightly to a forecasted $1.4 billion surplus in state general fund income over current annual spending obligations.

The estimates hold implications amid the coronavirus pandemic for public school finances, health care subsidies, public worker salaries, public safety and more.