SANTA FE, N.M. (AP) — New Mexico legislative leaders are recommending a 5.7% general fund spending increase for the coming fiscal year. The recommendation emphasizes health care access, public school improvements and early education and childcare programs. A budget committee of the Democratic-led Legislature on Wednesday proposed a $577 million spending increase to $10.8 billion for the fiscal year running from July 2025 to June 2026. New Mexico would use a newly approved assessment on hospitals to harness billions of federal Medicaid dollars for its health care sector. That’s despite uncertainty about President-elect Donald Trump’s approach to the program. The budget proposals do not outline possible tax cuts.
