Governor signs state budget, capital outlay bills and tax package
SANTA FE — Governor Michelle Lujan Grisham today signed an $11.1 billion state budget for fiscal year 2027 that funds higher education, universal child care, road improvements, economic development initiatives and more.
The $11.1 billion general fund marks an increase of $339.5 million, or 3.1%, compared to the FY 2026 budget, while leaving reserves at 26.4%.
“Over the last seven years, we have fundamentally redefined New Mexico’s future by prioritizing historic investments in universal child care, health care, public safety and more while achieving record job growth and the nation’s largest drop in child poverty,” said Governor Lujan Grisham. “We’ve built a strong foundation of opportunity for New Mexico families, and while this budget marks a massive leap forward, our work is far from finished.”
“I’m signing this budget today as a commitment to New Mexico’s long-term success and a promise to keep moving our state upward,” the governor added.
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