Post by Logan on Jun 21, 2016 23:14:33 GMT -6
SANTA FE – New Mexico’s shaky budget situation is generating concern among state lawmakers – and talk about legislators possibly having to return to the state Capitol later this year to make additional cuts or spending adjustments.
“We’re on fumes,” Legislative Finance Committee Director David Abbey told members of a legislative interim committee Monday, referring to state revenue collections that are 10 percent less – or roughly $454 million – for the current fiscal year than they were a year ago at this time.
Senate Finance Committee Chairman John Arthur Smith, D-Deming, said lawmakers could have to go back to Santa Fe for a special legislative session by as soon as August if the state’s revenue picture doesn’t improve.
“Right now, it doesn’t look very good,” Smith told the Journal after Monday’s hearing. “If things don’t turn around on the revenue side, there could be additional belt-trimming.”
Read more: www.abqjournal.com/795247/legislators-fear-additional-cuts-may-be-needed.html
“We’re on fumes,” Legislative Finance Committee Director David Abbey told members of a legislative interim committee Monday, referring to state revenue collections that are 10 percent less – or roughly $454 million – for the current fiscal year than they were a year ago at this time.
Senate Finance Committee Chairman John Arthur Smith, D-Deming, said lawmakers could have to go back to Santa Fe for a special legislative session by as soon as August if the state’s revenue picture doesn’t improve.
“Right now, it doesn’t look very good,” Smith told the Journal after Monday’s hearing. “If things don’t turn around on the revenue side, there could be additional belt-trimming.”
Read more: www.abqjournal.com/795247/legislators-fear-additional-cuts-may-be-needed.html