SANTA FE – Funding for New Mexico public schools, Medicaid and a number of cash-strapped agencies would go up in the coming year under a $5.7 billion budget proposal unveiled Wednesday by the Legislative Finance Committee.
In addition, state workers would see larger paychecks: they would receive a one-half percent pay raise – about $200 more per year for a worker earning an annual salary of $40,000 – and the amount they pay into their state retirement plans would drop.
Rank-and-file state employees have not received pay raises since 2008.
“We’d like to be able to communicate to the public that things are getting a little bit better,” said Sen. John Arthur Smith, D-Deming, the LFC’s chairman.
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