House Narrowly Approves $5B State Budget

SANTA FE, N.M. – The measure allocates $5.4 billion in the fiscal year starting July 1. That's about $155 million less than this year when New Mexico used nearly $380 million in federal economic stimulus money for government operations, mainly health care and education.

The proposed budget is about $18 million lower than spending recommendations by Republican Gov. Susana Martinez.

The budget assumes savings by capping film subsidies and lowering pension contributions by state government while boosting pension payments by workers.

The spending measure was approved 35-34 on Wednesday and goes to the Senate.