Policy: Budgets & Deficits

New Mexico revenues up $84M in current budget year

Around the Web,newsgatherr,New Mexico,Budgets and Deficits
( SANTA FE, N.M. (AP) -- New Mexico expects strong enough revenue growth to allow for a possible 5 percent budget increase next year for public education and other government programs, according to a financial forecast Monday that will guide spending decisions during the upcoming legislative session. According to the report: Revenues will be higher because of strong oil and natural gas receipts, personal income tax growth and lower than anticipated costs for a business tax credit. State taxes on energy production will drop if oil and natural gas prices fall.

Read the rest of this post on the original site »

View article comments Leave a comment