Proposed New Mexican Budget for Coming Fiscal Year Covers Wide Variety of Infrastructure Work

Just days before the opening of the New Mexico State Legislature’s 2025 session, some $10.8 billion in new spending is being recommended for the 2025-2026 fiscal year.

That recommendation is coming by way of the New Mexico Legislative Finance Committee, which in a report notes that the $10.8 billion would represent a 5.7% increase over the most recent fiscal year.

In a statement, Democrat Senator George Munoz, chairman of the committee, remarked that “fiscal restraint has been critical to our successful efforts to transform the revenue boom of the last few years into long-term support for states services.”

The report, Legislating for Results: Policy and Performance Analysis, recommends $1.3 billion for road construction and maintenance projects, along with $1.7 billion for a wide variety of infrastructure work. That works includes $20 million for renovations to the University of New Mexico’s College of Pharmacy, and $4.5 million for the expansion completion of a new biomedical building at New Mexico State College.

An additional $18.5 million will target infrastructure deficiencies on the campuses of New Mexico Highlands University, the New Mexico Institute of Mining and Technology, and Eastern New Mexico University.

One month ago, Democrat Governor Michelle Lujan Grisham issued a budget calling for $300 million in road construction and maintenance, $50 million to clean up contaminated ground water, and $15 million for rural water infrastructure projects, among other things.

The legislature is set to convene on January 21 and wrap up its business two months later on March 22.

January 16, 2025

By Garry Boulard

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