“The Best We Could Do”: Special Legislative Session Addresses Pressing Budget Needs, Small Business Aid, But Leaves Much To Do in January

It took an extra day or two longer than expected, but the special legislative session called to address the budget woes brought on by both the ongoing COVID-19 pandemic and the spring shock to energy prices reached agreement on a series of cuts, clawbacks, and “sanding” of agency budgets and appropriations to reduce the state budget by hundreds of millions of dollars. Other measures passed by the legislature included a small business aid package, and body camera requirements for police officers.

The small business aid package — sponsored by Senators Jacob Candelaria (D – Bernalillo), John Sapien (D – Bernalillo and Sandoval) and Sander Rue (R – Bernalillo) — seeks to make $500 million in low interest loans available to small businesses and local governments to help overcome the cash crunch brought on by the virus-induced economic shutdown and help small businesses restart. Supported by the Chamber, the bill was approved on a vote of 59-5 and sent to the Governor.

Overall, despite the reduction of the budget by roughly $600 million to a total of $7.0 billion, substantial work remains with the possibility that revenues for the coming fiscal year may drop below $6.0 billion. This would leave the new 55th legislature in January potentially responsible for making another $1 billion or more in cuts to state government.

The Chamber supported the budget reduction legislation, as well as the proposals to require all municipal, county, state and Department of Public Safety officers wear body cameras to improve transparency and protect both officers and citizens.

Share this post

Share on facebook
Share on google
Share on twitter
Share on linkedin
Share on pinterest
Share on print
Share on email

Mayoral Debate from the Greater Albuquerque Chamber of Commerce

Read More

CLOSE CALL: Inmate Cuts Off Ankle Monitor, Shows Glaring System Weaknesses

If you followed the local news last week, you probably saw the KRQE story about the Albuquerque murder suspect, Trey Bausby, who cut off his ankle monitor …

Read More

STUDY: UNM Delivering BIG Economic Impact in NM ($5.2B) – Despite Pandemic Challenges

A report released last week, titled “The Statewide Economic Impact of the University of New Mexico,” quantifies UNM’s economic contributions in 2020 to the state …

Read More
Scroll to Top