The New mexico House and Senate Passed HB1, a revised Appropriations and Solvency Bill On Saturday, reducing the state Budget for the coming year by 600 million dollars. This still leaves a shortfall of around 1.4 billion to be made up by a use of federal funding, cash reserves and one-time budget maneuvers to avoid deep spending cuts. It leaves the final outcome and potential additional cuts or tax increases until the next regular session in January of 2021. They will also need to address the anticipated 1 billion plus shortfall in the next years budget.

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