New Mexico governor rules out tax increase to fix budgets

News

SANTA FE, N.M. (AP) – New Mexico Gov. Susana Martinez is indicating that she will not consider any tax increases as the state seeks to close the gap on a projected budget shortfall during a special legislative session tentatively planned for next month.

A spokesman for the Republican governor said Monday that state government needs to tighten its belt and that raising taxes in any way from families and businesses would make the state less competitive and hurt job prospects.

Legislative analysts have projected a general fund short of roughly $150 million for the budget year that ended in June, with a leading lawmaker warning of potentially greater shortfalls this year.

The governor’s spokesman Chris Sanchez says a special legislative session needs to address budget problems for both the current and most recent fiscal years.

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