Gov. Lujan Grisham releases FY25 executive budget recommendation - Recommendation continues bold investments while maintaining fiscal responsibility
[Skip to content](#main-content)
# PRESS RELEASES
1. [Home](https://www.governor.state.nm.us) 2. [Press Releases](https://www.governor.state.nm.us/press-releases/) 3. Gov. Lujan Grisham releases FY25 executive budget recommendation – Recommendation continues bold investments while maintaining fiscal responsibility
# Gov. Lujan Grisham releases FY25 executive budget recommendation – Recommendation continues bold investments while maintaining fiscal responsibility
Jan 4, 2024 | [Press Releases](https://www.governor.state.nm.us/press-releases/)
**SANTA FE** – Today, Gov. Michelle Lujan Grisham released the [FY25 executive budget recommendation](https://www.nmdfa.state.nm.us/wp-content/uploads/2024/01/FY25-Executive-Budget-Recommendation.pdf). The budget totals $10.5 billion in recurring spending, a 9.9% increase from the last fiscal year. The executive recommendation will maintain reserves at 34.2%. The budget directs meaningful investments in key areas including housing, education, child wellbeing, public safety, health care, economic development, and water and natural resources.
“Because of our historic – but prudent – investments made over the last few years in New Mexico in everything from small businesses to hospitals, childcare to college, free school meals to law enforcement, the future of our state is brighter than ever,” said **Gov. Lujan Grisham.** “Here’s my promise to New Mexicans today: I will continue to push for programs, services and solutions that work. Here’s my promise to New Mexicans in future years and future generations: We will continue to spend within our means, responsibly and with an eye toward accountability, always, while capitalizing on the fiscal opportunities available.”
The FY25 budget recommendation capitalizes on New Mexico’s record revenue while utilizing recurring revenue reasonably and consistently, which is in line with future projections of the Consensus Revenue Estimating Group.
Highlights from the budget recommendation include the following:
Water & Natural Resources
* $500 million capital appropriation from severance tax bonds for the Strategic Water Supply * $250 million general fund transfer to the Land of Enchantment Conservation Fund, which feeds into the Land of Enchantment Legacy Fund * $20 million to support low-interest loans to communities to implement projects that reduce carbon emissions
Housing & Homelessness
* $250 million for the New Mexico Housing Trust Fund * $250 million to the New Mexico Finance Authority Opportunity Enterprise Revolving Fund to increase funding for affordable housing, including developments of low income multi-family housing, down payment assistance for low and middle income households, homeowner rehabilitation and weatherization programs, etc. * $40 million for homelessness initiatives to coordinate and expand homelessness services statewide
Education
* $33 million to expand early pre-kindergarten by 1,380 slots * $101.2 million increase to the State Equalization Guarantee Distribution for the necessary adjustment to 180 classroom days
* $58.1 million for structured literacy, including $30 million for a new Structured Literacy Institute * $43.5 million for healthy, universal school meals * 3% pay increase ($96 million) for all educators
Health Care, Behavioral Health & Child Well-Being
* $2.15 billion in recurring general fund for the Health Care Authority, formerly the Human Services Department * $100 million for the Rural Healthcare Delivery Fund * $87.9 million for Medicaid provider rate increases to 150% for maternal/child health, primary care, and behavioral health * $24.7 million to create a new Family Services division at the Children, Youth and Families Department
Public Safety
* $35 million for corrections and law enforcement recruitment statewide * $5 million for the Governor’s Commission on Organized Crime * $35 million for the Firefighter and EMT Recruitment Fund
Economic Development & Infrastructure
* $100 million to launch the New Mexico Match Fund, which will leverage federal funding for infrastructure investments, including roads, bridges, water, energy and broadband * $25 million for the Local Economic Development Act Program (LEDA) * $9.7 million for the Job Training Incentive Program (JTIP) * $5 million in total funding for the New Mexico Media Academy * $1.5 million special to the Economic Development Department to broaden New Mexico’s international market reach
The executive budget also includes a 3% compensation increase for state employees.
#### Recent Posts
* [Governor appoints Rebecca Roose as Natural Resources Trustee](https://www.governor.state.nm.us/2026/06/05/governor-appoints-rebecca-roose-as-natural-resources-trustee/) * [U.S. Supreme Court approves Rio Grande compact settlement – Agreement ends 13-year interstate dispute](https://www.governor.state.nm.us/2026/05/28/u-s-supreme-court-approves-rio-grande-compact-settlement-agreement-ends-13-year-interstate-dispute/) * [Health care loan repayment expands to address doctor shortage – Record expansion part of strategy to add health providers in NM](https://www.governor.state.nm.us/2026/05/26/health-care-loan-repayment-expands-to-address-doctor-shortage-record-expansion-part-of-strategy-to-add-health-providers-in-nm/) * [Governor declares statewide drought and severe fire conditions – Agencies will coordinate community and water protection efforts](https://www.governor.state.nm.us/2026/05/20/governor-declares-statewide-drought-and-severe-fire-conditions-agencies-will-coordinate-community-and-water-protection-efforts/) * [Governor Lujan Grisham leads trade mission to Japan](https://www.governor.state.nm.us/2026/05/11/governor-lujan-grisham-leads-trade-mission-to-japan/)
## Press Release Archive
* [June 2026](https://www.governor.state.nm.us/2026/06/) (1) * [May 2026](https://www.governor.state.nm.us/2026/05/) (6) * [April 2026](https://www.governor.state.nm.us/2026/04/) (5) * [March 2026](https://www.governor.state.nm.us/2026/03/) (10) * [February 2026](https://www.governor.state.nm.us/2026/02/) (21) * [January 2026](https://www.governor.state.nm.us/2026/01/) (10) * [December 2025](https://www.governor.state.nm.us/2025/12/) (7) * [November 2025](https://www.governor.state.nm.us/2025/11/) (6) * [October 2025](https://www.governor.state.nm.us/2025/10/) (11) * [September 2025](https://www.governor.state.nm.us/2025/09/) (11) * [August 2025](https://www.governor.state.nm.us/2025/08/) (7) * [July 2025](https://www.governor.state.nm.us/2025/07/) (9) * [June 2025](https://www.governor.state.nm.us/2025/06/) (10) * [May 2025](https://www.governor.state.nm.us/2025/05/) (4) * [April 2025](https://www.governor.state.nm.us/2025/04/) (12) * [March 2025](https://www.governor.state.nm.us/2025/03/) (13) * [February 2025](https://www.governor.state.nm.us/2025/02/) (11) * [January 2025](https://www.governor.state.nm.us/2025/01/) (11) * [December 2024](https://www.governor.state.nm.us/2024/12/) (5) * [November 2024](https://www.governor.state.nm.us/2024/11/) (9) * [October 2024](https://www.governor.state.nm.us/2024/10/) (10) * [September 2024](https://www.governor.state.nm.us/2024/09/) (16) * [August 2024](https://www.governor.state.nm.us/2024/08/) (9) * [July 2024](https://www.governor.state.nm.us/2024/07/) (13) * [June 2024](https://www.governor.state.nm.us/2024/06/) (17) * [May 2024](https://www.governor.state.nm.us/2024/05/) (5) * [April 2024](https://www.governor.state.nm.us/2024/04/) (9) * [March 2024](https://www.governor.state.nm.us/2024/03/) (13) * [February 2024](https://www.governor.state.nm.us/2024/02/) (19) * [January 2024](https://www.governor.state.nm.us/2024/01/) (13) * [December 2023](https://www.governor.state.nm.us/2023/12/) (10) * [November 2023](https://www.governor.state.nm.us/2023/11/) (8) * [October 2023](https://www.governor.state.nm.us/2023/10/) (13) * [September 2023](https://www.governor.state.nm.us/2023/09/) (6) * [August 2023](https://www.governor.state.nm.us/2023/08/) (9) * [July 2023](https://www.governor.state.nm.us/2023/07/) (16) * [June 2023](https://www.governor.state.nm.us/2023/06/) (19) * [May 2023](https://www.governor.state.nm.us/2023/05/) (17) * [April 2023](https://www.governor.state.nm.us/2023/04/) (11) * [March 2023](https://www.governor.state.nm.us/2023/03/) (24) * [February 2023](https://www.governor.state.nm.us/2023/02/) (23) * [January 2023](https://www.governor.state.nm.us/2023/01/) (23) * [December 2022](https://www.governor.state.nm.us/2022/12/) (14) * [November 2022](https://www.governor.state.nm.us/2022/11/) (17) * [October 2022](https://www.governor.state.nm.us/2022/10/) (19) * [September 2022](https://www.governor.state.nm.us/2022/09/) (22) * [August 2022](https://www.governor.state.nm.us/2022/08/) (26) * [July 2022](https://www.governor.state.nm.us/2022/07/) (27) * [June 2022](https://www.governor.state.nm.us/2022/06/) (23) * [May 2022](https://www.governor.state.nm.us/2022/05/) (15) * [April 2022](https://www.governor.state.nm.us/2022/04/) (17) * [March 2022](https://www.governor.state.nm.us/2022/03/) (21) * [February 2022](https://www.governor.state.nm.us/2022/02/) (25) * [January 2022](https://www.governor.state.nm.us/2022/01/) (18) * [December 2021](https://www.governor.state.nm.us/2021/12/) (10) * [November 2021](https://www.governor.state.nm.us/2021/11/) (7) * [October 2021](https://www.governor.state.nm.us/2021/10/) (8) * [September 2021](https://www.governor.state.nm.us/2021/09/) (23) * [August 2021](https://www.governor.state.nm.us/2021/08/) (14) * [July 2021](https://www.governor.state.nm.us/2021/07/) (12) * [June 2021](https://www.governor.state.nm.us/2021/06/) (18) * [May 2021](https://www.governor.state.nm.us/2021/05/) (14) * [April 2021](https://www.governor.state.nm.us/2021/04/) (24) * [March 2021](https://www.governor.state.nm.us/2021/03/) (15) * [February 2021](https://www.governor.state.nm.us/2021/02/) (17) * [January 2021](https://www.governor.state.nm.us/2021/01/) (33) * [December 2020](https://www.governor.state.nm.us/2020/12/) (33) * [November 2020](https://www.governor.state.nm.us/2020/11/) (38) * [October 2020](https://www.governor.state.nm.us/2020/10/) (42) * [September 2020](https://www.governor.state.nm.us/2020/09/) (43) * [August 2020](https://www.governor.state.nm.us/2020/08/) (39) * [July 2020](https://www.governor.state.nm.us/2020/07/) (42) * [June 2020](https://www.governor.state.nm.us/2020/06/) (47) * [May 2020](https://www.governor.state.nm.us/2020/05/) (47) * [April 2020](https://www.governor.state.nm.us/2020/04/) (39) * [March 2020](https://www.governor.state.nm.us/2020/03/) (62) * [February 2020](https://www.governor.state.nm.us/2020/02/) (40) * [January 2020](https://www.governor.state.nm.us/2020/01/) (15) * [December 2019](https://www.governor.state.nm.us/2019/12/) (16) * [November 2019](https://www.governor.state.nm.us/2019/11/) (6) * [October 2019](https://www.governor.state.nm.us/2019/10/) (6) * [September 2019](https://www.governor.state.nm.us/2019/09/) (11) * [August 2019](https://www.governor.state.nm.us/2019/08/) (9) * [July 2019](https://www.governor.state.nm.us/2019/07/) (14) * [June 2019](https://www.governor.state.nm.us/2019/06/) (7) * [May 2019](https://www.governor.state.nm.us/2019/05/) (12) * [April 2019](https://www.governor.state.nm.us/2019/04/) (12) * [March 2019](https://www.governor.state.nm.us/2019/03/) (19) * [February 2019](https://www.governor.state.nm.us/2019/02/) (29) * [January 2019](https://www.governor.state.nm.us/2019/01/) (14) * [December 2018](https://www.governor.state.nm.us/2018/12/) (1)
### Categories
* [2022 Wildfires](https://www.governor.state.nm.us/2022-wildfires/) * [COVID-19](https://www.governor.state.nm.us/covid-19/) * [Early Childhood Education](https://www.governor.state.nm.us/early-childhood-education/) * [Legislative Updates](https://www.governor.state.nm.us/legislative-updates/) * [Press Releases](https://www.governor.state.nm.us/press-releases/) * [Public Safety](https://www.governor.state.nm.us/public-safety/) * [Uncategorized](https://www.governor.state.nm.us/uncategorized/)
## Contact
The Office of Governor Michelle Lujan Grisham is located on the fourth floor of the New Mexico State Capitol in Room 400.
Address: 490 Old Santa Fe Trail Room 400 Santa Fe, NM 87501
Phone: (505) 476-2200 Toll free: (833) 520-0020
## Quick Links
* [Open Positions](https://www.governor.state.nm.us/apply/open-positions/) * [Boards and Commissions](https://www.governor.state.nm.us/apply/boards-and-commissions/) * [Judicial and District Attorney Posts](https://www.governor.state.nm.us/judicial-and-district-attorney-posts/)
## Flag Status
