LFC releases budget recommendations for 2025-2026 fiscal year

LFC releases budget recommendations for 2025-2026 fiscal year

The Legislative Finance Committee released its budget recommendations for the 2025-2026 fiscal year.

SANTA FE, N.M. – The Legislative Finance Committee released its budget recommendations for the 2025-2026 fiscal year.

It calls for spending nearly $11 billion from the state’s general fund. That’s $577 million more than fiscal year 2025 planned spending.

The committee is also recommending $3 billion for one-time projects. That money would go to regional recreation centers, quality of life grants and transportation projects.

“This budget is focused on making New Mexicans lives better immediately, and setting a path over the next 510, and even longer, 510 and more years to provide an elevated quality of life for New Mexicans,” said state Rep. Nathan Small. 

About 45% of the $577 million increase would go to public education. That includes a 4% raise for school personnel salaries.

Another $79 million of the recurring general fund increase is designated for the Health Care Authority, mostly for the Medicaid program.