House GOP urges caution as NM budget outlook is updated

Santa Fe – Today, the Legislative Finance Committee received an updated revenue outlook for New Mexico’s budget as the state continues under the forced economic shutdown imposed by Governor Lujan Grisham. The turmoil in the state budget began in mid-March 2020 when oil and gas prices and production fell dramatically; shortly followed by the first of several economic shutdowns that has created a fragile state economy.