New Mexico’s budget hole sits at nearly $450 million – the largest since 2009 and the start of the Great Recession. Added together, the projected shortfall for Fiscal Year 2016 and 2017 is $650 million. That figure represents a $220 million shortfall from the fiscal year just ended in June – and an expected shortfall of up to $430 million by the end of the current fiscal year in 2017.
The Governor announced the long awaited Special Legislative Session late Wednesday night. Sandra Fish of New Mexico In Depth comments on the announcement and its implications for campaign fundraising.