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NM could lose up to $25M in tobacco revenues

October 30, 2013 • State News

SANTA FE, N.M. (AP) — Gov. Susana Martinez’s administration plans to cut spending on several health and education programs because New Mexico faces the loss of up to $25 million from a nationwide settlement with tobacco companies.

The state expected to collect about $39 million in tobacco payments in the current budget year. However, the attorney general’s office said Wednesday that amount will be lowered because of an arbitration ruling against New Mexico and five others states in September.

The state is using nearly $20 million in tobacco revenue this year for early childhood services and to shore up a lottery-financed college scholarship program that is running out of money. About $19 million is going for a host of health programs, including Medicaid and services to help people stop smoking.

Finance and Administration Secretary Tom Clifford told The Associated Press his agency will be require to trim monthly budget distributions for Login to read more

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