SANTA FE - On Dec 12, 2024, Gov. Michelle Lujan Grisham released a FY26 executive budget recommendation that builds on progress made during her first six years in office while boosting investments in health care, child well-being and infrastructure across New Mexico.

The budget recommendation includes $10.9 billion in recurring spending––an increase of 5.3% over current year spending. The budget contains an additional $172 million for state employee pay raises, which includes additional compensation for New Mexico educators

The executive recommendation maintains reserves at 30.4%.

“This fiscally sound budget proposal prioritizes early childhood education, clean energy, infrastructure, affordable housing, and expanded healthcare access to build a stronger foundation for New Mexicans,” said Gov. Michelle Lujan Grisham. “My administration looks forward to discussing these proposals with state lawmakers and reaching consensus on the priorities that matter most to our state.”

Today’s budget release comes more than a month before the Jan. 21 start of the New Mexico Legislature, providing lawmakers and the public as much time as possible to review the document and provide input.

“Transparency drives trust,” said Lujan Grisham. “Our early release of the executive budget ensures everyone has time to review our priorities for New Mexico.”

For more narrative detail on the governor’s specific budget proposals please consult the document linked above.