(Albuquerque)-New Mexico’s budget picture isn’t getting any better. A couple of weeks ago, the chairman of the Senate Finance Committee said the state could take a billion dollar revenue hit due to coronavirus and falling oil prices. Now, John Arthur Smith tells the Santa Fe New Mexican that the state could fall short of projections by as much as two billion dollars. He says the magnitude of the problem appears to be quite a bit larger now.
Governor Michelle Lujan Grisham has indicated that a special legislative session is inevitable to deal with the state’s revenue picture.
It’s still unclear how much the 2-trillion dollar Economic Stimulus package approved last week in Washington will help New Mexico’s budget.
