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AP New Mexico

New Mexico legislature seeks spending boost, tax cuts

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Published 5:23 PM

By MORGAN LEE
Associated Press

SANTA FE, N.M. (AP) — Proposals to increase state spending and slash taxes have moved closer to reality with crucial floor votes in the New Mexico House and Senate, as lawmakers set priorities for an unprecedented deluge of state government income. The state Senate voted 37-3 on Monday to endorse a $8.48 billion general fund spending plan for the fiscal year starting on July 1 — a 14% increase over current-year spending. Senate additions to the spending plan worth $150 million still require House approval or negotiation if disagreements persist. The House endorsed a variety of tax cuts, credits and rebates.

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