New Mexico House Speaker Opposes Job Funds Move Amid Crunch

SANTA FE, N.M. (AP) — New Mexico Republican House Speaker Don Tripp says he opposes moving a closing fund designed to help recruit businesses to the state. Tripp said this weekend lawmakers should not place Local Economic Development Act money into the state's general fund amid a budget shortfall. He said the move would hurt investment. Tripp also said such a move "is like a carpenter deciding to sell off his tools to pay his current bills." The GOP leader's comment comes after a coalition of New Mexico business leaders urged state lawmakers to keep intact the closing fund. Local Economic Development Act funds help with local infrastructure projects to attract new businesses. New Mexico is one of many states dealing with declines in the general fund linked to reduced energy prices. Lawmakers may need a special session to solve the budget shortfall.