Sat. Apr 13th, 2024

LAWMAKERS CONSIDER USING OIL BOOM FUNDS FOR ROADS

NEW MEXICO (KSMX) – A sizable portion of New Mexico’s projected budget surplus would be funneled to road projects under proposals by Gov. Michelle Lujan Grisham and a key legislative committee. The state is on track to end the current budget year in June with a surplus of more than $1.2 billion due to surging oil production. Between $300 million and $400 million of that could be included in an annual infrastructure bill sponsored by Sen. Carlos Cisneros to repair roads and make improvements in areas that are overwhelmed, the Albuquerque Journal reports. The projects could include reconstructing a heavily trafficked oilfield route in Eddy County and building a new interstate interchange near Los Lunas. A third traffic lane on Interstate 25 between Bernalillo and Santa Fe could also be an option.

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