NEW MEXICO’S REVENUE PICTURE KEEPS GETTING WORSE. ECONOMISTS ARE NOW PROJECTING THAT THE STATE WILL HAVE ONLY 30-MILLION DOLLARS IN SO-CALLED “NEW MONEY” FOR THE 2017 BUDGET YEAR…MORE THAN 200 MILLION LESS THAN A MONTH OR SO AGO.
THE NUMBER HAS BEEN GETTING SMALLER AND SMALLER AS OIL PRICES PLUNGE, AND TAX REVENUES GO DOWN. IT MEANS LAWMAKERS WILL HAVE LESS MONEY TO SPEND ON STATE PROGRAMS…AND IT ALSO APPEARS RAISES FOR STATE EMPLOYEES ARE UNLIKELY.
