"New Mexico's Surprising Windfall: $3.5 Billion Boosts State's Prospects"

New Mexico is projected to have $3.482 billion in "new money" by fiscal year 2025, thanks to economic growth and the state's oil and gas industry. The state recently increased its estimate for available funds, with an additional $866.2 million for fiscal year 2023 and $790.7 million for fiscal year 2024. Lawmakers are urged to plan for the future and reduce reliance on oil and gas, while Republicans advocate for investing the extra cash. The possibility of another round of payouts to residents remains uncertain.