January 10, 2017

Governor Susana Martinez Introduces Fiscal Year 2018 Budget -- News release, State of New Mexico Office of the Governor

Governor Susana Martinez announced her Fiscal Year 2018 budget proposal, which closes the current budget deficit caused by the oil and gas crash without raising taxes. At the same time, the proposal protects classroom spending, economic development initiatives, and public safety.

The FY 17 solvency package includes:
• Sweeping $268.5 million in various cash and fund balances from across state government, including a small portion – $12.5 million – of lawmakers’ vastly overfunded personal retirement accounts.
• That also includes $120 million in administration slush funds within our school districts that are not being used in the classrooms. This DOES NOT have an impact on classrooms. With the sweep, the fund will still have $132 million and would allow school districts to keep their reserves at 5 percent as currently directed.
• Reducing the gross receipts tax “hold harmless” distribution to those counties and municipalities that have already raised taxes on their citizens. This will save $9 million.
• Reducing budgets for the Legislature and Higher Education, from 3 percent and 5 percent respectively, to the 5.5 percent the majority of other agencies are having to deal with (total of $4 million recurring).
• To prevent state employee furloughs and salary reductions, the proposal includes a 3.5 percent retirement swap from state employer contribution to state employee contribution.
• The elimination of some credits and assessments paid by Medicaid to the New Mexico Health Exchange and New Mexico Medical Insurance Pool (total of $17 million recurring).

-- 1/10/2017

 

Report on Russian hacking relied on human sources, technical collection: U.S. spy chief -- Reuters

Director of National Intelligence James Clapper said on Tuesday the U.S. intelligence community's report concluding that Russia orchestrated hacks during the 2016 presidential campaign was based on a mix of human sources, collection of technical data and open-source information.

Clapper, speaking before the Senate Intelligence Committee, said much of the report is classified due to a need to protect sensitive sources and methods. -- 1/10/2017