New Mexico governor unveils budget proposal

Republican Gov. Susana Martinez has unveiled a nearly $6.3 billion spending plan for growing New Mexico’s economy and bolstering a slew of education initiatives.

Martinez detailed her plan Monday during a visit to Dona Ana Elementary School in Las Cruces. The plan includes $68 million for raising the minimum wage for new teachers, expanding early childhood education initiatives and meeting other public school needs.

Martinez and the Legislature will begin hashing out a final budget for the next fiscal year when the 60-day legislative session begins Jan. 20.

Both the Martinez administration and lawmakers have warned the state will have less money to spend due to falling oil prices. A $1 change in oil prices causes a $7.5 million change in revenue for the state’s main budget account.