NEW MEXICO STATE GOVERNMENT CONTINUES TO BE IMPACTED BY LOW ENERGY PRICES. THE ASSOCIATED PRESS REPORTS THE STATE COLLECTED 3.6 BILLION DOLLARS IN TAX REVENUE DURING THE FIRST SEVEN MONTHS OF THE FISCAL YEAR. THAT’S DOWN TEN PERCENT FROM A YEAR AGO.
THE LEGISLATIVE FINANCE COUNCIL SAYS THE DECLINING REVENUE IS DUE TO PROBLEMS IN THE OIL INDUSTRY AND A RESULTING DOWNTURN IN THE OVERALL ECONOMY.
