NEW MEXICO’S FINANCIAL SITUATION CONTINUES TO IMPROVE. THE SANTA FE NEW MEXICAN SAYS A REPORT RELEASED THIS WEEK INDICATES STATE TAX RECEIPTS FOR THE FIRST FOUR MONTHS OF THIS FISCAL YEAR WERE UP BY 292 MILLION DOLLARS, OR JUST UNDER 17 PERCENT.
THE INCREASE IS LARGELY DUE TO IMPROVING REVENUES FROM THE OIL AND GAS INDUSTRY AS WELL AS TAX RECEIPTS FROM CONSTRUCTION. THE NEW MEXICAN REPORTS THE ADDITIONAL REVENUE COULD ALLOW FOR A COST-OF-LIVING INCREASE ACROSS STATE GOVERNMENT.
