Copyright © 2017 Albuquerque Journal
SANTA FE – For the first time in a long time, New Mexico lawmakers are getting some good financial news.
The state is on track to rebuild its reserves to more than 8 percent by the end of the fiscal year in June 2018, after once having almost completely exhausted them, if economic trends continue, according to a revenue report released Monday.
And the state can expect more than just the $25 million in “new” money – or revenue beyond this year’s spending levels – that was once forecast for next year’s budget. Just how much isn’t clear yet.