New Mexico lawmakers are preparing for financial triage as they convene to mend a budget deficit and trim future spending without undermining basic government obligations to public schools, law enforcement and health care.
The Legislature begins a 60-day session Tuesday.
State budget analysts describe a funding crisis of historic proportions for New Mexico, where a downturn in the oil and natural gas sector has sapped tax revenues and is likely to require another round of agency cuts to close current-year shortfalls.
Republican Gov. Susana Martinez is proposing public pension changes that would reduce take-home pay by 3.5 percent for over 80,000 state workers and public school teachers.
Politicians of all stripes want the state to attract new enterprises that can curb reliance on revenues from oil.
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