{"id":238746,"date":"2016-12-05T15:15:28","date_gmt":"2016-12-05T22:15:28","guid":{"rendered":"http:\/\/nmpolitics.net\/index\/?p=238746"},"modified":"2016-12-05T20:41:16","modified_gmt":"2016-12-06T03:41:16","slug":"state-government-is-still-in-the-red-new-revenue-estimate-says","status":"publish","type":"post","link":"https:\/\/nmpolitics.net\/index\/2016\/12\/state-government-is-still-in-the-red-new-revenue-estimate-says\/","title":{"rendered":"State government is still in the red, new revenue estimate says"},"content":{"rendered":"<div id=\"attachment_56542\"  class=\"wp-caption module image alignnone\" style=\"max-width: 771px;\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-56542\" src=\"http:\/\/nmpolitics.net\/index\/wp-content\/uploads\/2015\/06\/Kids-at-Roundhouse-771x504.jpg\" alt=\"A statue outside the Roundhouse in Santa Fe.\" width=\"771\" height=\"504\" srcset=\"https:\/\/nmpolitics.net\/index\/wp-content\/uploads\/2015\/06\/Kids-at-Roundhouse-771x504.jpg 771w, https:\/\/nmpolitics.net\/index\/wp-content\/uploads\/2015\/06\/Kids-at-Roundhouse-336x220.jpg 336w, https:\/\/nmpolitics.net\/index\/wp-content\/uploads\/2015\/06\/Kids-at-Roundhouse-768x502.jpg 768w, https:\/\/nmpolitics.net\/index\/wp-content\/uploads\/2015\/06\/Kids-at-Roundhouse-1170x764.jpg 1170w, https:\/\/nmpolitics.net\/index\/wp-content\/uploads\/2015\/06\/Kids-at-Roundhouse.jpg 1500w\" sizes=\"auto, (max-width: 771px) 100vw, 771px\" \/><p class=\"wp-media-credit\">Heath Haussamen \/ NMPolitics.net<\/p><p class=\"wp-caption-text\">A statue outside the Roundhouse in Santa Fe.<\/p><\/div>\n<p>Despite a special session earlier this year and budget cuts aimed at balancing the state budget, a new revenue estimate released Monday finds the state short $69 million in the current fiscal year.<\/p>\n<p>Next year isn&#8217;t looking too good either.<!--more--><\/p>\n<p>&#8220;The challenge we have right now is we need \u2018now\u2019 money,\u201d Sen. John Arthur Smith, the chairman of the Legislative Finance Committee, was quoted by the\u00a0<a href=\"https:\/\/www.abqjournal.com\/902276\/new-mexico-facing-69m-deficit-more-trouble-on-horizon.html\" target=\"_blank\">Albuquerque Journal<\/a>\u00a0as saying. &#8220;We\u2019ve got a ton of work to do between now and the end of the legislative session.&#8221;<\/p>\n<p>Budget cuts and news taxes are already being discussed. Gov. Susana Martinez, a Republican, and House Republicans insisted during the special session that there would be no new taxes. Without the votes to make a veto override possible, lawmakers instead approved widespread cuts.<\/p>\n<p>But Democrats will retake control of the House and increase\u00a0their margin of control in the Senate when the Legislature convenes in January for a 60-day session. Whether Democrats\u00a0will try to force approval of new revenues instead of just additional cuts\u00a0remains to be seen.<\/p>\n<p>You can read the new revenue estimate <a href=\"https:\/\/www.nmlegis.gov\/Entity\/LFC\/Documents\/Revenue_Reports\/General_Fund_Revenue_Forecast\/2016\/Consensus%20Revenue%20Estimate%20-%20December%202016.pdf\" target=\"_blank\">here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The state is still short $69 million in the current fiscal year, according to a new revenue estimate.<\/p>\n","protected":false},"author":1,"featured_media":56542,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[196,118,107],"class_list":["post-238746","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-budget","tag-economy","tag-roundhouse"],"_links":{"self":[{"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/posts\/238746","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/comments?post=238746"}],"version-history":[{"count":0,"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/posts\/238746\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/media\/56542"}],"wp:attachment":[{"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/media?parent=238746"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/categories?post=238746"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nmpolitics.net\/index\/wp-json\/wp\/v2\/tags?post=238746"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}