BREAKING NEWS: Co-chairs for Senate finance

Tim Jennings of Roswell and John Arthur Smith of Deming will co-chair the Senate Finance Committee, Democratic leaders decided tonight.

The compromise was reached shortly after 5 p.m. following hours of meetings involving members of the Committee’s Committee. This is still a proposal that must be approved by entire Senate, but most consider that a technicality that won’t be a problem.

Referring to the massive amount of money available to increase the state’s budget this year – $723 million – Smith said he’s looking forward to a challenge.

“I think it’s going to be a tough year because of all the dollars,” he said.

The chairmanship was open because of the retirement of Joe Fidel, D-Grants.

Smith has been vice chair and basically run the committee for the last two years, but Sen. President Ben Altamirano, D-Silver City, originally proposed Jennings being chair and Carlos Cisneros, D-Questa, being vice chair, because they have more seniority than Smith.

The two Democrats who will run the Finance Committee are independent and have, at times, been at odds with the governor. Richardson is making more of an effort to reach out to senators this session, but don’t expect the Senate to be less independent than it has in past years.

Other committee assignments weren’t immediately disclosed.