Kagi AI Summary:
Gov. Michelle Lujan Grisham has unveiled her proposed executive budget for the upcoming legislative session, emphasizing investments in early childhood education, clean energy, infrastructure, affordable housing, and expanded healthcare access. The budget reflects a commitment to building a stronger foundation for New Mexicans and aims to foster collaboration with state lawmakers. The Legislative Finance Committee recently indicated that the legislature will have $892 million in new funds available for appropriations, contributing to a total General Fund of $10.944 billion for fiscal year 26, starting July 1, 2025.
Lujan Grisham's proposal includes reserves of $3.33 billion, representing 30.4% of the budget, and outlines significant allocations across various departments: $4.56 billion for Public Education, $2.2 billion for Health Care, and $1.4 billion for Higher Education, among others. Additionally, the budget proposes $172 million for state employee pay raises, inclusive of educators. The early release of the budget is intended to promote transparency and trust, allowing ample time for public review before the legislative session begins on January 21.