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Legislative Finance Committee releases nearly $11B budget proposal

  • New Mexico's Legislative Finance Committee recommended a budget proposal of $10.8 billion for the 2025-2026 fiscal year, marking a 5.7% increase over 2025 planned spending.
  • The budget includes $3 billion in one-time spending for various projects, including $50 million for recreation centers and $350 million for transportation projects.
  • The proposal allocates 45% of the $577 million increase in recurring general fund spending to public education, focusing on school district funding.
  • Senate President Pro Tem Sen. Mimi Stewart emphasized the budget's aim to support local communities and reduce greenhouse gas emissions.
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  • 60% of the sources lean Left
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