Regional
10:25 am
Wed March 3, 2010

NM Budget Approved

New Mexico – The Legislature has given final approval to a $5.6 billion budget and tax increases of more than $200 million to help pay for public schools and government programs next year.

Lawmakers are close to wrapping up a special session, but it will last at least another day.

The House and Senate are coming back on Thursday for what could be a final mop-up.

Pending in the Senate is an increase in the cigarette tax to raise $33 million, and measures to finance capital improvements.

A more than $200 million tax measure heading to Gov. Bill Richardson includes an increase in the gross receipts tax on goods and services, and a partial reinstatement of the food tax.

Copyright 2010 The Associated Press.