Santa Fe, NM (KKOB) – Tuesday night with just a few hours to spare, the state legislature approved a new budget bill. The state’s budget at $11.1 billion, includes tax credits for doctors practicing in the state of $10,000. The House also restored a 1% pay raise for state employees and teachers which was taken out earlier by a Senate committee. The new budget will increase spending by about $277 million or 2.6%. The budge includes money for the state’s Universal Child Care for all New Mexicans program.
The raises were added to Senate Bill 151, a tax bill that won final approval late Wednesday, when the Senate voted to agree with House changes to the legislation.
“They are necessary to help working families keep up with the rapidly increasing cost of living today,” said Rep. Derrick Lente, D-Sandia Pueblo, after a House Taxation and Revenue Committee meeting.
Gov. Michelle Lujan Grisham will have until March 11 to act on the budget bill and all other measures passed in the final days of this year’s session.
