KANW-FM

New Mexico budget standoff has no quick fix

Mar 20, 2017

SANTA FE, N.M. (AP) — A political standoff over how to fund New Mexico state government and public schools during the coming fiscal year is showing no sign of quick resolution. Bills that would authorize $6.1 billion in state spending and companion revenue increases from taxes and fees had not yet reached the governor's desk on Monday because of clerical requirements. Gov. Susana Martinez is promising to veto tax increases approved by the Legislature and call lawmakers back to Santa Fe to renegotiate a balanced budget. The second-term Republican governor says she has put forward options to raise $300 million to shore up state finances without outright tax increases. More than $100 million would come from pension contribution changes that are opposed by fellow Republicans and sweeps from retirement accounts that raise constitutional issues.