The Republican governor announced on Monday her endorsement of the $6.2 billion budget as she met with business leaders at a hotel in Albuquerque.
New Mexico is drawing down its general fund reserves and pinching pennies to pay for day-to-day government operations because of plunging revenues linked to oil and natural gas production, as well as weaker-than-expected sales and income tax receipts.
Lawmakers avoided tax increases by scouring agency accounts for one-time funding. Critics of the spending plan worry it could make matters worse next year if energy prices remain low.
http://www.therepublic.com/view/story/372927fd578349dca6c7cb71bee6e7c0/NM–State-Budget