I am writing today to announce the closure of the New Mexico Independent. After three and a half years of operation in New Mexico, the board of the American Independent News Network, has decided to shift publication of its news…
While environmental activists played their part yesterday during demonstrations at the capitol building, going so far as to dress up as solar panels and to sing the tune of “You Are My Sunshine,” their counterparts, the anti-cap-and-trade contingency who has…
Roughly one quarter of University of New Mexico students are unimpressed with the state’s flagship public school, according to a survey that questioned college students about their higher education experiences.
A majority of states–New Mexico included–are tapping into rainy-day funds to get through this year, reports Stateline.org.
Last week the New Mexico Legislature failed to craft a budget for next year because of disagreements between legislative leaders. But the Legislature did approve what Democratic legislative leaders called an “essential bill” to shore up this year’s budget.
That bill would sweep $130 million in state money from more than 1,500 stalled brick-and-mortar projects around the state to beef up the state’s reserves.
The clawed-back money will provide a much-needed cushion for New Mexico if the state must draw down on nearly depleted reserves to make it to June 30 financially intact.
As with many other states, the bad economy is battering New Mexico’s tax revenues. The New Mexico Legislature’s budget arm, the Legislative Finance Committee, has projected that state revenues are coming in below expectations, a notion contested by Richardson’s budget team.
But both sides agreed that New Mexico needs the extra money in the reserves in case the state has to turn to its reserves to get through this fiscal year, which ends June 30.
Meanwhile, lawmakers will return to Santa Fe on Wednesday to take a second stab at crafting a budget proposal for next year, which could be a bigger financial challenge than this year.
The sheer size of the challenge confronting New Mexico lawmakers is the bad news. The good news is that New Mexico is not alone. A recent survey shows that the fiscal year that begins in July will be “the most difficult to date,” according to a survey of 45 states released at the winter meeting of the National Governors Association, Stateline.org reports.
