SANTA FE, N.M. (AP) — Efforts by New Mexico to save and invest portions of a financial windfall from local oil production are paying off as state government income on investments surpasses personal income tax collections for the first time, according to a new forecast Monday. General fund income from the state’s two, multibillion-dollar permanent funds and interest on treasury accounts is expected to climb to $2.1 for the fiscal year between July 2024 and June 2025, surpassing $2 billion in revenue from personal income taxes. The investment earnings are designed to ensure critical programs — ranging from childcare subsidies to tuition-free college and trade school education — endure if oil
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