SANTA FE, N.M. (AP) — New Mexico Gov. Michelle Lujan Grisham has signed a budget solvency plan seeking to mend a multibillion-dollar deficit by scaling back spending increases.
But the Democrat vetoed Tuesday some cuts to public education and other areas.
State government finances are reeling from the coronavirus epidemic’s economic fallout and aggressive state emergency health restrictions designed to hold the virus at bay.
New Mexico economists are forecasting a $2.4 billion decline in state government income through June 2021 amid the economic upheaval.
The governor vetoed more than $30 million in budget cuts, restoring funding slated for reduction for public schools and other measures.