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NM forecasts $12.8B in revenue for fiscal year 2024

Despite recent concerns state revenues will come in below budget forecasts made in August, the secretary of the state Taxation and Revenue Department said New Mexico "looks to be on ....

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Budget for 2024 legislative session expected to be $12.7B

The head of the state Department of Finance and Administration gave lawmakers some good news Monday when he told them: Yes, there is a Santa Claus — New Mexico can ....

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Oil and gas cooling to impact future state spending

The recent era in New Mexico where billions in money from explosive oil and gas growth that generated the most money for the state government — ever — is slowing ....

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Revenue projection: $3.5 billion in new money, though recovery slows

State economists told Legislators that they will likely have an additional $3.5 billion in revenue to consider when crafting the next budget. This is over the already record-breaking revenue, and budget spending, from the previous legislative session. The post-pandemic economic recovery in New Mexico is slowing down due to expired tax credits, oil price fluctuations ....

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Slowdowns in oil and gas means smaller growth in N.M. revenues

The recent era in New Mexico where billions in money from explosive oil and gas growth that generated the most money for the state government, ever, is slowing down. ....

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