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SANTA FE – Today, Gov. Michelle Lujan Grisham signed the FY25 state budget and the Capital Outlay spending bill, finalizing a fiscally responsible spending plan that makes critical investments in New Mexico. The budget totals $10.21 billion in recurring spending, a 6.8% increase from the last fiscal year. The budget maintains reserves at 32.5% a near-historic high. This year’s Capital Outlay and General Obligation Bond appropriations include nearly $1.8 billion in projects throughout the state.
