SANTA FE, N.M. – A historic $10.1 billion budget proposal is on track to reach the governor’s desk with time to spare.

The Senate approved the massive spending plan Monday on a 31-10 vote, after adding an extra $31 million on top of what House lawmakers approved. That’s to increase funding for universal school meals, food banks, and a few other initiatives.

The Senate version also includes millions more for road projects and affordable housing funds.

The state budget proposal includes significant funding boosts for almost every state agency and pay raises for most state workers and public school employees. It also commits more than a billion dollars in trust funds and endowments to use in future years.

Lawmakers say that’s to prepare for a potential decrease in oil and gas revenue. Despite those predictions, lawmakers say New Mexico’s bank account is in good shape right now.

“You may not like everything that’s happening here. But New Mexico, you are not a poor state. Quit telling other people you’re a poor state,” state Sen. George Muñoz said.

The budget now goes back to the House, which will have to approve the Senate’s changes before sending it off to the governor.

The Senate also tackled the massive omnibus tax package. It’s a single bill that combines all sorts of tax proposals.

The Senate added several new tax credits for renewable energy solutions; teacher-purchased school supplies, and families that adopt special needs children.

A major overhaul to New Mexico’s income tax brackets is the big ticket item and was the focus for Republican lawmakers Monday. 

“We’ve got a really good income we are billions of extra dollars and the House actually put a couple of tax increases in here. Why in the world are we increasing taxes on anybody when we sit on billions of dollars?” state Sen. Craig Brandt asked.

The Senate eventually approved the tax package on a 26-13 vote. Like the budget proposal, it now heads back to the House for final approval with a few days left to go. The session will end at noon Thursday.