New Mexico
New Mexico Legislative Finance Committee releases $10.8B budget recommendation • Source New Mexico
New Mexico’s Legislative Finance Committee on Wednesday recommended $10.8 billion in spending for the 2025-2026 fiscal year from the state’s general fund, a 5.7% increase over 2025 planned spending.
In a statement, Sen. George Muñoz (D-Gallup), LFC chairman and chair of the Senate Finance Committee, said “fiscal restraint has been critical to our successful efforts to transform the revenue boom of the last few years into long-term support for state services.” He continued to say the lawmaker’s intended budget recommendation balances increasing New Mexican’s income, health care and quality of life while saving for the future.
Democratic lawmakers held a news conference Wednesday to present their recommendations, which include $3 billion in one-time spending: $50 million for regional recreation centers and quality of life grants; $350 million for transportation projects; $855 million for special projects and $1.7 billion in transfers to endowments and other funds.
The budget also allocates 45% of the $577 million increase in recurring general fund spending to public education, primarily toward the formula-based state equalization guarantee distribution to school districts and charter schools.
Other budget highlights include:
• a 3% increase, or $36 million to the Higher Education Department
• approximately $79 million more to the Health Care Authority, primarily for Medicaid
• an average 4% increase for higher education and state employee salaries— $134 million.
“New Mexico is in the best financial situation it’s ever been in its history,” Muñoz told reporters Wednesday. “If we do maintain responsible policies in New Mexico, we’ll continue on this path to growth for the next 10 years.”
Gov. Michelle Lujan Grisham’s budget recommendations, which she released in December, call for $10.9 billion in recurring spending overall, including $172 million for state employee and educator raises.
Senate Majority Leader Peter Wirth (D-Santa Fe) said the Legislature’s budget proposal is “not that far apart” from the governor’s proposed budget, “and that’s a really good thing going into a session.”
The committee’s plan allocates 33% of planned spending for reserves; the governor’s recommends maintaining reserves at 30.4%.
In a statement, Department of Finance and Administration Cabinet Secretary Wayne Propst said the agency released the executive budget recommendation “earlier than ever to give both the public and the Legislature ample time to review and understand our plan before the LFC presented theirs.”
“We appreciate the effort that went into the LFC recommendation and agree that both recommendations align on key priorities and are very close to each other. Where differences exist, we look forward to working through them with the appropriating committees,” Propst said. “We’ve been proactive in building strong reserves and setting aside billions for the future. These next 60 days will test our collective resolve to resist unnecessary spending and stay focused on building a strong and stable financial future for New Mexico.”
Senate President Pro Tem Sen. Mimi Stewart (D-Albuquerque) also noted the budget includes a community benefit fund for electrification, transportation and clean jobs infrastructure designed to help local communities lower greenhouse gas emissions, and have healthier air, land and water.
Overall, House Appropriations and Finance Committee Chair Rep. Nathan Small (D-Las Cruces) said the budget focuses on making New Mexicans’ lives better immediately and in the next decade and beyond.
Wise spending in this budget will allow for sustained future raises for public servants like teachers, police officers, health care workers and others, Small said, “whereas in past cycles, it was a boom-and-bust approach.”
“We have an enviable opportunity in order to spend increased amounts today, while also saving for the future,” he said.
GET THE MORNING HEADLINES.
SALT LAKE CITY — A missionary for The Church of Jesus Christ of Latter-day Saints from Utah has passed away in his sleep unexpectedly Saturday in New Mexico, according to a news release from The Church.
Elder Caleb Gene Martin, 21, died from a medical cause that has not been determined, Church spokesman Sam Penrod said in a statement.
According to The Church, Martin had been serving in the New Mexico Farmington Mission since May 2024. He was from Salem, Utah.
Elder Caleb Gene Martin, 21, died in his sleep on Jan. 3 from a medical cause that has yet to be determined. He was serving in the New Mexico Farmington Mission. (The Church of Jesus Christ of Latter-day Saints)
“We extend our heartfelt condolences to his family, friends and fellow missionaries. We pray they will find comfort and strength through their faith in the gospel of Jesus Christ and feel the Savior’s love as they honor Elder Martin’s life and devoted missionary service,” the statement said.
According to the release, an autopsy is planned.
This is a developing story and may be updated.
Southeastern New Mexico will see some snow while other places will generally see cooler, more winter-like temperatures. See the latest conditions at KOB.com/Weather.
ALBUQUERQUE, N.M. — Some notable cities in New Mexico could see multiple inches of snow, along with possible wind and cooler temperatures Sunday into Monday.
There is going to be snow across the southeast. A winter storm advisory is in effect all throughout areas like Ruidoso and out toward the Texas state line. A winter storm warning for Carlsbad and even a blizzard warning for the Guadalupe Mountains. These advisories and warnings indicate it’s going to continue until Monday at 6 p.m.
How much snow might there be? Ruidoso could see a few inches, along with other higher-elevation areas. Carlsbad might even see as much as two inches and Roswell has a very good chance of snow.
Wind gusts ranged from 23 mph for Hobbs and Clovis, 25 in Santa Rosa and similar readings in other places. Temperatures could hit sub-freezing temperatures in places like Ruidoso, Roswell, Carlsbad and Hobbs. Meanwhile, Gallup and Grants could get into the single-digits. Plus, places like Albuquerque and Santa Fe will be in the 20s but the big “winner” is Alamosa, Colorado, with 2 degrees.
Chief Meteorologist Eddie Garcia shares all the details in his full forecast in the video above.
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