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Budget proposals show record money after oil boom
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The Legislative Finance Committee released its budget recommendations last Thursday. These documents are expected to be presented to the state legislature and include a policy and performance analysis, appropriation recommendations and supplemental charts and graphs
The LFC budget recommendations asks the legislature to spend $9.44 billion from the state’s general fund which is a $1.04 billion, or 12 percent, increase of fiscal year 2023 planned spending. Earlier in the week, on Jan. 10, Gov. Michelle Lujan Grisham released her executive budget recommendations. “Today, we have a historic opportunity for change in the state of New Mexico,” Lujan Grisham said in a news release.