New Mexico Struggles to Balance Budget

New Mexico Struggles to Balance Budget
News

POSTED: Tuesday, March 2, 2010 - 6:23am

UPDATED: Tuesday, March 2, 2010 - 7:06am

Santa Fe, NM - (AP) - The Legislature is back at work with a politically difficult assignment of raising taxes and cutting
spending to balance the state budget next year.

A House committee approved a $5.6 billion budget bill on Monday. It will reduce spending by nearly 2 percent from amounts provided for government operations in the current fiscal year.

A proposal to raise the tax on cigarettes by 75 cents a pack stalled in a House committee, illustrating the problems confronting Democratic leaders in lining up enough votes for a budget-balancing package.

Democratic leaders negotiated a financial package with more than $200 million in tax increases, including a quarter-cent increase in the gross receipts tax.

The budget bill heads to the House for consideration.
 

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When you have an idiot liberal, Bill Richardson, in charge, you'll never balance the budget. All they know how to do is spend and waste.

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