
Revenue projections continue to fall thanks to oil prices remaining lower than previous projections, meaning that there could be some tough decisions in the upcoming legislative session.
The new projections show that legislators will have $232 million in new funds for the upcoming legislative session, which is down by $61 million from the previous projections. The projections are for the Fiscal Year 2016 budget and came at a Legislative Finance Committee meeting on Monday.
Even with the reduced amount, Senate Finance Committee chair John Arthur Smith, D-Deming, was skeptical of the projection.
“We hope the revenues materialize, but it’s going to be extremely painful if they...