Dear Friends,
The New Mexico House has passed a budget along party lines that's a band-aid approach to solving our serious fiscal crisis. It calls for dipping into reserves and using federal COVID-19 funds. It's a "kick the can down the road" approach, and many fear it may lead to higher taxes in the future.
Here's a press release last night from House Republcans:
House GOP Calls Out Smoke and Mirrors Budget
Santa Fe- This evening the New Mexico House of Representatives passed House Bill 1 on a party line vote of 46 – 24. House Republicans voted no on the measure because this budget does not address the government spending increases over the past two years and will lead to tax increases and a bleak budget outlook for New Mexicans.
For the past several months, House Republicans have called upon the Governor and Speaker of the House to seriously address the budget crisis and the looming deficits as the state moves forward post-COVID. The current spending plans do little to mitigate the severe loss of revenue the state will face as we all move forward and begin to rebuild the economy.
“Smoke and mirrors budgeting will compound the negative outlook in our state’s budget,” said House Republican Whip Rod Montoya. “Protecting lawmakers from making these tough decisions- that all New Mexicans are having to make by the way- will force the legislature to impose massive tax increases next year on people who are still lucky enough to have a job.”
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