Democratic lawmakers in the New Mexico House of Representatives are proposing a balanced budget plan that would cut most state agency funding by a little over 1 percent as the Legislature reconvenes for a special session.
House Democratic minority leader Brian Egolf of Santa Fe said Friday that the blueprint for addressing a major budget shortfall would exempt public safety and child protection programs from cuts, while suspending ongoing reductions to the corporate income tax rate. Most of the budget gap would be filled by one-time balance transfers.
Republican Gov. Susan Martinez wants approved reductions to corporate income taxes to stay in place. The House is controlled by a Republican majority, though Democrats say their cooperation is needed on budget provisions for a two-thirds majority vote to speed implementation.
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