ALBUQUERQUE, N.M. (KRQE) – Gov. Martinez unveiled her plan Tuesday to deal with the state’s $69 million budget shortfall.
The plan preserves funding for economic development, education and public safety. The governor’s proposal also maintains the cuts made during the recent special session.
But, New Mexico colleges would take another hit, and she wants to shrink overall pay to state employees and teachers by decreasing pension contributions.
The proposal also calls for reserves to be replenished by sweeping funds from idle public accounts, including $120 million from public school district reserves.
“Some lawmakers are discussing furloughs, layoffs, pay cuts and yes, raising taxes on our families. Let me offer an alternative,” said Gov. Martinez.
The governor says all this can be done without increasing taxes.