Government revenues falter in New Mexico


SANTA FE, N.M. (AP) – New Mexico budget officials say state government finances continue to deteriorate as tax collections and other revenues declined sharply during a recent three-month period.

The state Legislative Finance Committee released figures Tuesday that show state general fund revenues fell by 9.4 percent to $1.3 billion for the three month period ending in September versus the previous year. Revenues for the month of September were down nearly 12 percent from a year ago.

New Mexico state lawmakers and Republican Gov. Susana Martinez are wrestling with how to close a stubborn budget deficit linked to a sustained downturn in the oil and natural gas sectors.

The state has slashed spending at most agencies about 8 percent this year to offset plunging revenues. New Mexico’s credit rating has been downgraded slightly this year. provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Users who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

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