House Passes Big Budget
The New Mexico House of Representatives passed House Bill 2, the General Appropriations Act, with a vote of 53-16.
The state budget proposal for fiscal year 2025 totals $10.18 billion, up 6.5% from last year.
Representative Nathan Small Sponsor of HB 2 talked of New Mexico's Financial situation while presenting the bill to the Floor.
“Mr. Speaker and Body; Last year we talked about how we were climbing a mesa, the revenue increases that we have seen here in the state of new mexico growing 20% and 30%. Mr. Speaker, Body; my message is keep your boots on, we are continuing to climb, we continue to see strength across so many sectors of our economy.”
For education. HB 2 includes $4.43 billion in recurring funds for public schools, Including; $50 million for the Tribal Education Trust Fund and 4% salary increases for New Mexico educators.
Representative Meredith Dixon of Bernalillo had this to say on community safety and housing.
“I am so pleased today to talk about the investments that the House appropriation and finance committee’s substitute for house bill 2 and 3 makes in terms of public safety and housing. Both of those issues are tied together and for my district, they’re extremely important.
HB 2 invests a total of $531 million in public safety, including funds dedicated to; Providing necessary equipment and Funding new positions focused on crime reduction.
HB 2 also invests a critical $2.3 billion in housing, including funding for; new housing development and supportive housing, such as shelters for victims of domestic violence.