KRQE NEWS 13 - Breaking News, Albuquerque News, New Mexico News, Weather, and Videos Please enter a search term.
Please enter a search term. by: Jordan Honeycutt Posted: Aug 17, 2022 / 02:36 PM MDT Updated: Aug 17, 2022 / 04:08 PM MDT by: Jordan Honeycutt Posted: Aug 17, 2022 / 02:36 PM MDT Updated: Aug 17, 2022 / 04:08 PM MDT NEW MEXICO (KRQE) , New Mexico will once again break a record for extra money to spend this coming year and experts say there are no signs of slowing down.
State lawmakers have projected nearly KRQE NEWS 13 - Breaking News, Albuquerque News, New Mexico News, Weather, and Videos Please enter a search term.
Please enter a search term. by: Jordan Honeycutt Posted: Aug 17, 2022 / 02:36 PM MDT Updated: Aug 17, 2022 / 04:08 PM MDT by: Jordan Honeycutt Posted: Aug 17, 2022 / 02:36 PM MDT Updated: Aug 17, 2022 / 04:08 PM MDT NEW MEXICO (KRQE) , New Mexico will once again break a record for extra money to spend this coming year and experts say there are no signs of slowing down.
State lawmakers have projected nearly $2.5B more in their budget this year.
That money comes from income taxes, gross receipts taxes, and the booming oil industry.
According to the Appropriation Budget report, oil and gas revenues are expected to remain high.
According to the budget forecast, New Mexico hit peak production in April with nearly 1.6M barrels of oil a day.
Now, lawmakers are tasked with determining how to use that money.
Ideas range from infrastructure projects to behavioral health, public safety, and education.
In 2022, lawmakers approved an $8.72B budget so that extra $2B is significant.
Projections show by 2025, New Mexico could be bringing in an extra $10.8B.
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Subscribe Now source .5B more in their budget this year.
That money comes from income taxes, gross receipts taxes, and the booming oil industry.
According to the Appropriation Budget report, oil and gas revenues are expected to remain high.
According to the budget forecast, New Mexico hit peak production in April with nearly 1.6M barrels of oil a day.
Now, lawmakers are tasked with determining how to use that money.
Ideas range from infrastructure projects to behavioral health, public safety, and education.
In 2022, lawmakers approved an .72B budget so that extra KRQE NEWS 13 - Breaking News, Albuquerque News, New Mexico News, Weather, and Videos Please enter a search term.
Please enter a search term. by: Jordan Honeycutt Posted: Aug 17, 2022 / 02:36 PM MDT Updated: Aug 17, 2022 / 04:08 PM MDT by: Jordan Honeycutt Posted: Aug 17, 2022 / 02:36 PM MDT Updated: Aug 17, 2022 / 04:08 PM MDT NEW MEXICO (KRQE) , New Mexico will once again break a record for extra money to spend this coming year and experts say there are no signs of slowing down.
State lawmakers have projected nearly $2.5B more in their budget this year.
That money comes from income taxes, gross receipts taxes, and the booming oil industry.
According to the Appropriation Budget report, oil and gas revenues are expected to remain high.
According to the budget forecast, New Mexico hit peak production in April with nearly 1.6M barrels of oil a day.
Now, lawmakers are tasked with determining how to use that money.
Ideas range from infrastructure projects to behavioral health, public safety, and education.
In 2022, lawmakers approved an $8.72B budget so that extra $2B is significant.
Projections show by 2025, New Mexico could be bringing in an extra $10.8B.
Copyright 2022 Nexstar Media Inc.
All rights reserved.
This material may not be published, broadcast, rewritten, or redistributed.
Thanks for signing up!
Watch for us in your inbox.
Subscribe Now source B is significant.
Projections show by 2025, New Mexico could be bringing in an extra .8B.
Copyright 2022 Nexstar Media Inc.
All rights reserved.
This material may not be published, broadcast, rewritten, or redistributed.
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Watch for us in your inbox.