SANTA FE, NM (STL.News) Gov. Michelle Lujan Grisham on Friday morning signed the New Mexico state budget for Fiscal Year 2022, a $7.4 billion package overwhelmingly approved by the state Legislature that sustains and enhances key state investments in public education, early childhood well-being, economic development and pandemic relief, behavioral health and infrastructure.
The budget for the year beginning July 1, 2021, maintains 24 percent of recurring expenditures in reserves, or $1.7 billion, and 1.5 percent raises for public school and higher education personnel, as well as state employees and front-line health and social service workers.
After a year of fiscal uncertainty and upheaval driven by the COVID-19 pandemic, budgets for state agencies as provided for by the appropriative branch were generally flat with targeted increases for agencies covering health, education and early childhood well-being. Spending will increase 5 percent over the amended Fiscal Year 2021 budget, with 36 percent of new General Fund spending going to education initiatives.
“This budget is responsible and responsive to the needs of New Mexicans right now and in the future,” said Gov. Lujan Grisham. “This legislative season has been a remarkable success for New Mexicans in every corner of our state – with almost a billion dollars in new targeted pandemic relief for businesses and workers and more, with groundbreaking new initiatives in economic development and health care and environmental protection, and with, finally, a solid and sustainable budget that maintains and increases funding for key programs that benefit children and families and workers while ensuring our reserves remain robust and healthy.