Posted on 02/09/2003 10:43:51 AM PST by chance33_98
Tobacco Settlement Money Targeted To Balance Budget
POSTED: 8:17 p.m. MST February 7, 2003
SANTA FE, N.M. -- The state Senate has passed Gov. Bill Richardson's plan to abolish the state's tobacco settlement funds and use the money for Medicaid and other budget-balancing.
The Senate voted 21-to-19 Friday to send the bill to the House. All the Senate Republicans present -- and two Democrats -- voted against the proposal.
Opponents said the plan is shortsighted, and a setback to smoking-prevention and other tobacco-related health programs.
The state gets about $40 million annually in settlement funds. The money has been split between health programs and an interest-bearing permanent fund that now totals about $57 million.
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