New Mexico Recommended Spending Percentages
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FAQ
The budget for the NWT 2025 focuses on energy, infrastructure, and public health initiatives. While this specific budget pertains to different governance, it holds relevance for New Mexico, especially in terms of resource management. New Mexico Recommended Spending Percentages can serve as a guiding principle to ensure that the state's budget supports similar priorities in sustainable development.
The U.S. Treasury divides all federal spending into three groups: mandatory spending, discretionary spending and interest on debt. Together, mandatory and discretionary spending account for more than ninety percent of all federal spending, and pay for all of the government services and programs on which we rely.
More than half of FY 2019 discretionary spending went for national defense, and most of the rest went for domestic programs, including transportation, education and training, veterans' benefits, income security, and health care (figure 4).
New Mexico uses an annual budget. The legislature is not required to pass a balanced budget, nor is the governor required to sign one, and deficits may be carried over into the following year.
Revenues come mainly from tax collections, licensing fees, federal aid, and returns on investments. Expenditures generally include spending on government salaries, infrastructure, education, public pensions, public assistance, corrections, Medicaid, and transportation.
The survey found that city expenditures increased most in the areas of wages (76 percent of cities), public safety (69 percent) and infrastructure (62 percent). Education and contracting were the two categories reported to increase the least across cities surveyed.
When looking at New Mexico's budget it is clear that we value education, health care, and public safety, as those are the three largest spending categories. These investments in our human capital not only make our families and communities stronger, they also help our businesses grow and thrive.
Alaska is the top state for fiscal stability. It's followed by South Dakota, Tennessee, Idaho and Utah to round out the top five. Half of the 10 states with the best fiscal stability also rank among the top 10 Best States overall. Learn more about the Best States for fiscal stability below.
New Mexico lawmakers with heavy pockets walking into the 30-day legislative session approved a historic $8.72 billion budget crafted with record surplus and federal aid. Gov. Michelle Lujan Grisham directed the Legislature to think big with sweeping proposals in education, crime and energy.
What do state and local governments spend money on? State and local governments spend most of their resources on education, health, and social service programs. In 2019, about one-third of state and local spending went toward combined elementary and secondary education (22 percent) and higher education (9 percent).
