The 2023 legislative session will begin in just a few weeks. Legislators are positively giddy about all the money they will have to spend. With a 43 percent year-over-year surplus you can expect yet another expansion of New Mexico government at all levels.
As the data below shows, New Mexico’s FY 2023 budget (the one we are currently in) consumes vastly more of the State’s economy than our neighbors. You can find the source data here as well as below the chart.