House Approves Budget-Balancing Bill

KRWG News –
SANTA FE, N.M. (krwg) SANTA FE, N.M. (AP) With adjournment looming, the Legislature has approved a critical proposal for balancing the state's $5 billion state budget.

Lawmakers gave final approval late Thursday to a measure that saves nearly $111 million next year to help plug a budget gap. It requires state workers and educators to pay more into their pensions while government reduces its payroll contributions by a similar amount.

The bill was sent to Gov. Susana Martinez after the House reversed course and approved the proposal on a 35-34 vote. Nearly 24 hours earlier, the House refused to accept the Senate-passed version of the pension bill.

Copyright 2011 The Associated Press. krwg