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New Mexico DOT facing budget problems

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New Mexico DOT facing budget problems

Quote:

SANTA FE, N.M. — The state Department of Transportation is struggling to cope with a drop in tax revenues that pay for its operations and highway projects.

Transportation Secretary Gary Giron has told lawmakers the agency is preparing to cut spending and that highway maintenance may be postponed.

The agency’s financial problems are separate from a $650 million revenue shortfall that legislators are trying to plug in the state’s main budget for public education and general government operations.

The department is financed by federal highway money and earmarked state revenues — taxes on gasoline and diesel, vehicle registration fees and weight distance taxes paid by truckers.

more here>> New Mexico DOT facing budget problems

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