This year’s $8.5 billion budget signed by Gov. Michelle Lujan Grisham is a record high for spending and represents a 14% increase over last year’s spending levels.
According to Legislative Financial Committee reports, ‘the state’s long-term revenue growth might be insufficient to sustain current spending levels.’ No surprise there, but let’s be clear. Unchecked government spending is the problem; not a lack of revenue.
But there is a solution: voters can change who is serving in Santa Fe! If that happens we could see better fiscal responsibility and stewardship of tax dollars. If not, we can expect spending growth to continue and a number of new tax increase bills to pay for it during the next legislative session. Read more HERE.