Proposed New Mexico budget would increase state spending by nearly 12 percent
(The Center Square) - After increasing the state budget by a double-digit percentage last year, New Mexico Gov. Michelle Lujan Grisham wants to do the same again this year.
The Democratic governor released her proposed Fiscal Year 2024 budget on Tuesday. The proposed budget would total $9.4 billion, 11.9 percent more than the state is spending in Fiscal Year 2023, according to a release from the governor’s office.
The proposed spending increase comes after Grisham approved a budget last year that increased state spending by 14 percent from Fiscal Year 2022 to Fiscal Year 2023, according to the governor’s office.
Some of the largest new expenditures in the proposed budget include: $1 billion in tax rebates, $200 million to establish the "Rural Health Care Delivery Fund", $111.1 million for a 4 percent pay raise for public school personnel, and $91.3 million for a 4 percent pay raise to all state employees. In 2022, most New Mexicans received three rebate checks worth either $250 or $500 per payment.
The budget also includes $10 million to create an abortion clinic in southern New Mexico.
“Today, we have a historic opportunity for change in the state of New Mexico,” Gov. Lujan Grisham said in the release. “This budget builds upon the immense progress and success of the last four years, continuing to improve the lives of the people of New Mexico by funding programs, policies and initiatives that we know are working. It also empowers the state to continue to take on new and innovative strategies that are disrupting the status quo, that help our children, our families, our schools, our small businesses and our entire economy to grow and prosper.”
Lujan Grisham’s proposed budget is not final. Neither branch of the state legislature has released its proposed budgets.
A full breakdown of the proposed budget is available here.