Charles Sallee, the director of the Legislative Finance Committee, addressed nearly 100 participants at the Greater Albuquerque Chamber of Commerce's "Business Beat 1" virtual meeting. The event, held on December 2, marked the beginning of the Chamber's online speaker series for the program year.

Moderated by Del Esparza and Terri Cole, the session provided insights into New Mexico's financial outlook as it prepares for a significant legislative session starting in January. Sallee highlighted that New Mexico's budget has surpassed $10 billion due to high oil and gas prices and production. However, he noted challenges such as small businesses recovering from COVID-19 and finding qualified workers.

Cole described Sallee as responsible for budget construction and keeping legislators informed about fiscal developments. With over a decade of experience at the LFC, Sallee has contributed to policy changes in Medicaid, education, corrections, public schools, and workers' compensation.

Sallee mentioned that while past revenue growth was robust, future forecasts predict slower growth with significant volatility impacting stable budgeting. He emphasized balancing immediate and long-term state needs: “The state’s budget needs are expected to grow, so balancing near-term and long-term needs is constant.”

Oil and gas revenues significantly impact New Mexico's economy with $15.3 billion flowing through the state annually.

Janice Torrez from Blue Cross and Blue Shield of New Mexico acknowledged investments in healthcare but questioned how to address provider shortages. Sallee suggested focusing on access to quality coverage rather than just expanding it.

Esparza expressed gratitude for Sallee's insights. Torrez concluded by stressing tax relief as a legislative priority alongside focused capital spending on economic foundations: “We don’t want to look back...and say ‘if only we had spent those infrastructure dollars more wisely.’”

Torrez outlined three critical issues for economic health: healthcare worker shortages, academic performance in public schools, and crime related to justice system leniency. She affirmed the Chamber's commitment to collaborating with authorities: “We have skin in the game, and we have ideas and perspectives to offer.”