The Latest: First deficit bill clears New Mexico Legislature
The New Mexico Legislature has approved its first deficit-reduction bill during a special session aim at closing a major budget shortfall.
The New Mexico House of Representative voted 61-1 on Saturday to shore up the state’s general fund by reducing contributions to a health care fund for retired state employees. The legislation cleared the Senate on Friday and still needs the governor’s signature to become law.
The measure also would halt funding increases to a fire protection fund that supports local fire districts. New Mexico state finances are reeling from a downturn in the oil and natural gas sectors.
