New Mexico governor says tax cuts could hurt schools, police

SAID THE NEWS BY 60 DAY SESSION ENDS SATURDAY, A RECORD $9.6 BILLION BUDGET. NOW HEADING TO THE GOVERNOR’S DESK AFTER DEBATE BETWEEN THE HOUSE AND THE SENATE. THE BILL MEANS MORE INVESTMENTS FOR PUBLIC SAFETY, EDUCATION AND SOME OF THE MONEY WILL GO DIRECTLY TO NEW MEXICANS. WITH THE AMENDMENTS FROM THE SENATE, THERE LL BE AN 8% INCREASE IN THE PUBLIC SCHOOL BUDGET, WHICH IS A TOTAL OF AROUND $302 MILLION. IT ALSO INCLUDES A 6% INCREASE IN SALARY FOR PUBLIC SCHOOL AND HIGHER EDUCATION EMPLOYEES. THERE’S ALSO FUNDING FOR HIGHER ED STUDENTS. FROM $9.6 BILLION. THAT HAS A 30% RESERVE, WHICH IS VERY STRONG RESERVE. AND WE’RE SENDING ALMOST $600 MILLION TO THE SEVERANCE TAX PERMANENT FUND. WE’VE SEEN TEACHERS GET PAY RAISES. WE’RE VERY EXCITED ABOUT THAT. WE’D LIKE TO SEE SOME PROVEN QUANTITIES IN THE IN THEIR EARLY CHILDHOOD. LET’S SEE HOW THAT TURNS OUT. WE’RE ALWAYS OPTIMIST. THE GOVERNOR HAS UNTIL APRIL SEVENTH TO ACT ON THE BUDGET. SOME ELECTED POLITICIANS WILL GEPAY RAISES, INCLUDING THE GOVERNOR. SENATE BILL 442 NOW HEADS TO HER OFFICE FOR HER SIGNATURE. ON THE LEFT OF YOUR SCREEN, THE RAISES INCLUDE SECRETARY OF STATE, STATE TREASURER AND ATTORNEY GENERAL OVER THE RACE FOR THE GOVERNOR DOES NOT GO INTO EFFECT UNTIL 2027. AFTER MICHELLE LUJAN GRISHAM HIS TERM. THE GOVERNOR SIGNING THE REPRODUCTIVE AND GENDER AFFIRMING HEALTH CARE ACT SEVERAL CITIES, INCLUDING CLOVIS AND HOBBS, RECENTLY PASSED ANTI-ABORTION ORDINANCES. THE BILL WAS AMENDED IN THE SENATE AND APPROVED IN THE HOUSE. PAID FAMILY MEDICAL LEAVE WAS A HOT TOPIC AT THIS YEAR’S SESSION, DRAWING DEBATE FROM BOTH SIDES OF THE AISLE, EVEN PROTESTS OUTSIDE THE ROUNDHOUSE. THE BILL STALLED, BUT SUPPORTERS SAY THEY PLAN TO BRING IT BACK AT FUTURE SESSIONS. WE HAVE A PROBLEM WITH FOLKS NOT COMING TO WORK AS IT IS. WE ARE ALREADY SHORT STAFFED AND THIS WILL MAKE US MORE SHORT STAFFED AND THAT REALLY STRESSES OUT THE EMPLOYEES THAT ARE WORKING. WE HAVE TAKEN THIS FEEDBACK AND USED IT TO IMPROVE THE BILL OVER THE LAST FEW YEARS AS THE LEGISLATURE WINDS DOWN THEIR SESSION, THE GOVERNOR IS REVIEWING THE BILLS THEY’VE PASSED SO FAR. SHE SIGNED A NUMBER OF BILLS, INCLUDING REPRODUCTIVE HEALTH CARE, AS WE TOLD YOU ABOUT, EDUCATE AND SAVINGS PLAN USES ELECTRONIC MOTOR VEHICLE DOCUMENTS AND THE K-12 PLUS PROGRAM. ONE BILL SHE HAS VETOED, HOUSE BILL 125, THE SCHOOL DUAL CREDIT TASK FORCE.

New Mexico governor says tax cuts could hurt schools, policeNew Mexico Gov. Michelle Lujan Grisham is urging legislators to reevaluate the magnitude of proposed tax changes that would forgo $1 billion in annual state government income each year.In a statement Thursday, the second-term Democratic governor warned that proposed tax changes could undermine state spending priorities, including public education, public safety and economic development initiatives aimed at diversifying the economy."Let's deliver bold, meaningful tax reform — but let's also protect our future," Lujan Grisham said.The legislature has until noon Saturday to deliver bills to the governor, who can veto bills entirely or cross out individual spending provisions.The Legislature anticipates a $3.6 billion surplus in state income for the coming fiscal year in excess of current spending obligations. Most of the surplus is linked to surging oil production in the southeast region of the state — income that can fluctuate wildly over time with shifts in global energy prices.Tax changes recently endorsed by the state House, Senate or both chambers include $500 individual cash rebates, expanded incentives for film production in rural areas, refundable child tax credits of up to $600 per child, and a reduction in tax rates on sales and business transactions.Legislators have endorsed limited tax increases on capital gains, alcohol sales and tobacco products.A conference committee of six legislators met Thursday to reach a compromise on competing taxation proposals."It's too big, the package we came up with," Democratic state Senate Majority Leader Peter Wirth said.Annual state general fund spending would increase by 14%, or nearly $1.2 billion, to $9.6 billion under a budget bill approved Wednesday by the Legislature. The Legislature also has endorsed more than $1 billion in direct, one-time spending on infrastructure that reduces expenses associated with borrowing money to pay for construction.

New Mexico governor says tax cuts could hurt schools, police

New Mexico Gov. Michelle Lujan Grisham is urging legislators to reevaluate the magnitude of proposed tax changes that would forgo $1 billion in annual state government income each year.

In a statement Thursday, the second-term Democratic governor warned that proposed tax changes could undermine state spending priorities, including public education, public safety and economic development initiatives aimed at diversifying the economy.

"Let's deliver bold, meaningful tax reform — but let's also protect our future," Lujan Grisham said.

The legislature has until noon Saturday to deliver bills to the governor, who can veto bills entirely or cross out individual spending provisions.

The Legislature anticipates a $3.6 billion surplus in state income for the coming fiscal year in excess of current spending obligations. Most of the surplus is linked to surging oil production in the southeast region of the state — income that can fluctuate wildly over time with shifts in global energy prices.

Tax changes recently endorsed by the state House, Senate or both chambers include $500 individual cash rebates, expanded incentives for film production in rural areas, refundable child tax credits of up to $600 per child, and a reduction in tax rates on sales and business transactions.

Legislators have endorsed limited tax increases on capital gains, alcohol sales and tobacco products.

A conference committee of six legislators met Thursday to reach a compromise on competing taxation proposals.

"It's too big, the package we came up with," Democratic state Senate Majority Leader Peter Wirth said.

Annual state general fund spending would increase by 14%, or nearly $1.2 billion, to $9.6 billion under a budget bill approved Wednesday by the Legislature. The Legislature also has endorsed more than $1 billion in direct, one-time spending on infrastructure that reduces expenses associated with borrowing money to pay for construction.

New Mexico governor says tax cuts could hurt schools, police

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