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Long-term economic outlook envisions oil and gas funding dropping

As New Mexico prepares for a transition away from fossil fuels, officials told the Legislative Finance Committee there may be moderate financial gains in the near future. The state is expected to have moderate gains in the next 25 years, yet the oil and gas industry is expected to peak and decline. Department of Finance […] ....

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Larger pay raises, more money for college scholarships could be added to ballooning spending bill

Legislative Finance Committee Director David Abbey, right, raises his hand to make a point during a Wednesday meeting of the Senate Finance Committee, while the committee s chief of staff Adrian ....

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Legislators seek right balance in tax code

Changes have left New Mexico more reliant on oil, natural gas industries ....

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Spending deadlines proposed for NM capital outlay funds

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The new Vladem contemporary art museum in Santa Fe was among the projects flagged by the Legislative Finance Committee in a recent report. Of the more than $4 million in state funds appropriated for the museum in 2019, only about $40,000 had been spent as of November. (Eddie Moore/Albuquerque Journal)
Copyright © 2021 Albuquerque Journal
SANTA FE – In recent years, spending the money allocated by New Mexico lawmakers for infrastructure projects around the state has proved to be a vexing challenge.
In what would be a change, a key legislative budget panel is backing the idea of imposing spending deadlines on so-called capital outlay projects – at least for those projects funded by general fund dollars. ....

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