WHAT TO DO WITH ALL THAT EXTRA GREEN? THE LATEST REVENUE PROJECTIONS SHOW NEW MEXICO LAWMAKERS WILL HAVE 1.1 BILLION DOLLARS IN NEW MONEY WHEN THEY CONVENE IN SANTA FE NEXT MONTH. THAT’S DOWN SLIGHTLY FROM 1.2 BILLION IN AN EARLIER FORECAST. SO WHAT IS NEW MONEY? JEFF MITCHELL IS DIRECTOR OF UNM’S BUREAU OF BUSINESS AND ECONOMIC RESEARCH AND HE SAYS IT’S ACTUALLY HOW MUCH MONEY COULD BE AVAILABLE TO THE LEGISLATURE.
MITCHELL SAYS THE DROP OF 100-MILLION DOLLARS IN PROJECTED NEW MONEY SHOWS JUST HOW VOLATILE OIL AND GAS REVENUE IS…AND HOW DEPENDENT THE STATE IS ON THAT REVENUE SOURCE.
