New Mexico governor signs bills to counter federal cuts, support health care and food assistance
Associated Press
SANTA FE, N.M. (AP) — New Mexico Gov. Michelle Lujan Grisham signed a package of bills Friday aimed at shoring up food assistance, rural health care and public broadcasting in response to recently enacted federal cuts.
The new legislation responds to President Donald Trump's big bill as well as fear that health insurance rates will rise with the expiration of COVID-era subsidies to the Affordable Care Act exchange in New Mexico. Exchange subsidies are a major point of contention in the Washington budget standoff and related federal government shutdown.
New Mexico would set aside $17 million to backfill the federal credits if they are not renewed, under legislation signed by the governor.
The Democratic-led Legislature met on Wednesday and Thursday to approved $162 million in state spending on rural health care, food assistance, restocking food banks, public broadcast and more.
Starting this year, New Mexico expects to lose about $200 million annually because of new federal tax cuts. But the state still has a large budget surplus thanks to booming oil production.
“When federal support falls short, New Mexico steps up,” Lujan Grisham said in a statement.
Many federal health care changes under Trump's big bill don’t kick in until 2027 or later, and Democratic legislators in New Mexico acknowledged that their bills are only a temporary bandage.
Map: See where California FAIR Plan seeks home insurance rate hikes
Absence of jobs report clouds economic recovery outlook
Advisor News
- Pay or Die: The scare tactics behind LA County’s Measure ER tax increase
- How to listen to what your client isn’t saying
- Strong underwriting: what it means for insurers and advisors
- Retirement is increasingly defined by a secure income stream
- Addressing the ‘menopause tax:’ A guide for advisors with female clients
More Advisor NewsAnnuity News
- MassMutual turns 175, Marking Generations of Delivering on its Commitments
- ALIRT Insurance Research: U.S. Life Insurance Industry In Transition
- My Annuity Store Launches a Free AI Annuity Research Assistant Trained on 146 Carrier Brochures and Live Annuity Rates
- Ameritas settles with Navy vet in lawsuit over disputed annuity sale
- NAIC annuity guidance updates divide insurance and advisory groups
More Annuity NewsHealth/Employee Benefits News
- Business People: General Mills veteran Dana McNabb named COO
- CONFEREES ADOPT COMMERCE PACKAGE WITH MEAT RAFFLE INCREASE, NO INSURANCE LOOPHOLE FIX
- GLP-1 Drug Costs Cited as Heights Schools Hike Taxes and Cut Staff
- Pay or Die: The scare tactics behind LA County’s Measure ER tax increase
- Column: N.C.’s Medicaid ‘compromise’ comes at a cruel cost
More Health/Employee Benefits NewsLife Insurance News
- 2025 Insurance Abstracts
- AM Best Affirms Credit Ratings of Berkshire Hathaway Life Insurance Company of Nebraska and First Berkshire Hathaway Life Insurance Company
- Generational expectations: A challenge for the industry
- Greg Lindberg asks NC judge for no jail time in bribery, fraud cases
- National Life Group Names Brenda Betts to Its Board of Directors
More Life Insurance News