Albuquerque Journal (Albuquerque, NM)

Ideas Bloom On Spending Excess Funds.(New Mexico)

Byline: S.U. Mahesh Journal Capitol Bureau

Johnson Favors Slashing Taxes

SANTA FE The battle is brewing over how to spend a projected revenue windfall, with some Democrats calling for improved education and health care and Gov. Gary Johnson favoring annual tax cuts for all New Mexicans.

The revenue for this fiscal year is estimated to exceed total appropriations by more than $367 million, largely because of oil and natural gas taxes.

The state is projected to have about $416 million in "new money" in the next fiscal year's budget, according to a forecast presented to the Legislative Finance Committee on Monday.

"I will be proposing another tax cut, across the board. …

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