State expects more than $900M in new money

State economists estimate New Mexico will have $907 million in new money in the upcoming budget year, largely thanks to oil production, reports the Albuquerque Journal.

New Mexico is on track to reach an all-time high of about $8 billion in revenue by 2021, the Journal reported.

This latest budget surplus comes after a billion-dollar-plus surplus last fiscal year, again credited mostly to New Mexico’s surging oil sector.

Some lawmakers Business First spoke with in January said any new money…

Source: The Business Journal