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Budget Process 101

On the latest update from KSWV Radio, Larry Martinez walks us through New Mexico’s budget process in a way that’s easy to follow. As lawmakers gear up for the 2025 fiscal plan, House Bill 2 has taken center stage. This bill, which recently won big in the House Appropriations and Finance Committee, marks a $10.8 billion commitment to the state—a big jump from previous funding levels.House Bill 2 kicked off its journey in the committee known as the financial backbone of the House. With a decisive vote of 16 to 1, the committee backed the bill, pushing for a $595 million increase—about a 5.8% bump in spending. That’s a clear sign of New Mexico’s commitment to boosting support in key areas.

Now, the bill is headed to the full House floor, where lawmakers will dive into the details and suggest any needed tweaks before taking a final vote. After the House gives its nod, the bill moves on to the Senate. There, the Senate Finance Committee will review it and might add further changes.

A key part of the process is the conference committee, where leaders from both chambers meet up to sort out any differences between the House and Senate versions. This collaboration helps ensure that the final budget lines up with the state’s overall goals. Once everything is ironed out and approved by both sides, the confirmed budget bill will eventually land on the governor’s desk.

Larry Martinez’s update offers a clear look at how state funding decisions are made. It’s a handy resource for anyone keeping an eye on how New Mexico’s fiscal future is being shaped. Stay tuned to KSWV Radio for more updates as the story of House Bill 2 continues to evolve.

 

Larry Martinez shares a straightforward update on New Mexico’s state budget process. He explains how House Bill 2—a substitute bill from the House Appropriations and Finance Committee—is set to reshape government funding. You can track its journey through debates, amendments, and votes in both the House and Senate until it eventually reaches the governor’s desk. With his expert insights and projections for upcoming legislative sessions, Larry makes it easy to stay in the loop.

 

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