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Thursday, November 7, 2024

Finance secretary to resign as New Mexico's financial crisis grows

Grisham

Gov. Michelle Lujan Grisham | Facebook

Gov. Michelle Lujan Grisham | Facebook

The New Mexico finance secretary is resigning as the state's financial crisis grows, Gov. Michelle Lujan Grisham's spokeswoman said. 

Finance and Administration Secretary Olivia Padilla-Jackson said she wanted a job closer to her family in Albuquerque and would be resigning at the end of the month, according to KOB 4

New Mexico's State Budget Director Debbie Romero will be taking over Padilla-Jackson's position, Lujan Grisham's spokeswoman Nora Meyers Sackett said.

Just as Padilla-Jackson is resigning, the state's budget crisis continues to grow, according to KOB 4. Lujan Grisham said she anticipates a special Legislature session in June, which will be to discuss the budget for the upcoming year, according to KOB 4.

According to financial analysts, if New Mexico continues spending at its current rate during the COIVD-19 pandemic, all of the state's reserves could quickly be used up, KOB 4 reports. 

The state has implemented a hiring freeze as a way to conserve money. 

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