State Projected to Have Extra $485 Million for Next Legislative Session

New Mexico projects $485 million in 'new money' in fiscal year 2027

As expected, revenue growth is slowing. But a finance official says, "The fiscal position of the state of New Mexico remains strong."

State projected to have extra $485 million for next legislative session

NEW MEXICO (KRQE) – New Mexico has more money coming in than it expected, but the question is for how long? The state is projected to have $485 million extra for the next legislative session, but there are a lot of unknowns about how inflation and the president's so-called One Big Beautiful Bill will affect the budget. Story continues below New Mexico News Insiders: Reporting On Child Abuse In New Mexico Don't Miss: What’s in a name? Albuquerq…

New Mexico economists predict $485 million in ‘new’ money for next year’s state budget

The Seal of the State of New Mexico inside the Roundhouse on Jan. 10, 2024. A multi-agency team of New Mexico forecasters released new budget projections Tuesday that predict the state will continue to be on solid financial footing, with nearly half a billion dollars in “new” money. (Photo by Anna Padilla for Source NM)Economists tasked with predicting New Mexico’s financial health said Tuesday the state will generate a little more than $14 bil…