From the
New Mexico Independent - Officials in the Martinez administration announced Tuesday that revenue for the state government will be lower than previously estimated. The Associated Press
reports: A new revenue forecast released Tuesday lowered projections for tax collections by $123 million in the fiscal year that starts next July and about $21 million in the current budget year. Much of the decline is because economists expect oil and natural gas prices to be lower than anticipated. The Legislative Finance Committee was told in July they had around $350 million in “new money” to use in the next legislative session. The decreased oil and gas revenue means only $200 million will now be available.
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State revenue from oil and gas will come up short, officials say
From the New Mexico Independent - Officials in the Martinez administration announced Tuesday that revenue for the state government will be lower than previously estimated. The Associated Press reports: A new revenue forecast released Tuesday lowered projections for tax collections by $123 million in the fiscal year that starts next July and about $21 million in the current budget year. Much of the decline is because economists expect oil and natural gas prices to be lower than anticipated. The Legislative Finance Committee was told in July they had around $350 million in “new money” to use in the next legislative session. The decreased oil and gas revenue means only $200 million will now be available. Read more
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1 comments:
How much is due to energy companies leaving the state to drill elsewhere? The voters should keep the environmentalists in mind when they go to the polls in November 2012. Vote against the environmentalist industry.
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