The Latest: New Mexico union fights GOP solvency plan

SANTA FE, N.M. (AP) — The Latest on efforts by New Mexico lawmakers to resolve a state budget crisis (all times local): 11:00 a.m. A public employees union in New Mexico is pushing back against a Republican plan to shore up state finances by withdrawing pension money earmarked for lawmakers. Carter Bundy of the American Federation of State, County and Municipal Employees said Wednesday that the proposed withdrawals would affect retirement savings of most state workers and not just legislators. He also warned that the plan to claw back $12.5 million in retirement contributions would threaten the tax-exempt status of the New Mexico Public Employees Retirement Association. Republican Gov. Susana Martinez and GOP lawmakers say that a legislative retirement plan is overfunded, too generous and should be used to plug a budget deficit for the coming fiscal year. State pension managers say that would be illegal. The American Federation of State, County and Municipal Employees represents about 10,000 state workers in New Mexico. ___ 3:00 a.m. New Mexico lawmakers are converging on the state Capitol for a special session in hopes of resolving a budget crisis. The session begins at noon Wednesday with a focus on restoring vetoed funding to all state colleges and universities. Republican Gov. Susana Martinez and the Democratic-led Legislature have been feuding for months over how to fill a shortfall for the upcoming fiscal year. Martinez in April vetoed tax and fee increases that most lawmakers say are needed to bolster funding for public schools, courts and critical government services after repeated rounds of cuts to state agencies. The governor favors further government belt tightening, along with legislation to wipe away tax breaks. Lawmakers are contemplating quick ways to boost finances by taxing more online sales, imposing taxes on nonprofit hospitals and suspending infrastructure projects.