KOB Web Staff
Updated: February 19, 2020 06:06 PM
Created: February 19, 2020 03:35 PM
SANTA FE, N.M.- The state Senate passed a budget Wednesday by a vote of 35-7.
During the debate on the Senate floor, Sen. John Arthur Smith, a Democrat, said he has concerns about the level of spending included in the $7.6 billion budget.
“This is an increase of $536 million," he said. We’re going to have a lot of faith that oil and gas can continue to generate additional revenues for the state of New Mexico."
The changes made in the Senate will be need be approved by members of the House.
The changes include another $20 million for the early child trust fund. It also raised the general fund reserves from 23% to 25%, and teachers will now get a 4% raise, not a 5% raise.
“What we did on salaries was that we brought the salaries across all of state government back to four percent," Smith said. "The state employees were at three so we were able to raise them 1% and we believe this is in a responsible line that might be sustainable into the future. That’s something that we certainly will keep our eye on.”
Once the changes are approved by the House, the budget will be sent to the governor.
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