New Mexico Gov. Susana Martinez said she would sign the state's $5.9 billion budget for fiscal 2014 after threatening to veto the spending measure until lawmakers agreed to lower business taxes.

An 11th-hour tax package was adopted in the final moments before the Legislature adjourned last week. Opponents said final passage in the Senate actually happened several minutes after the 2012 session should have ended, but their objections were overruled.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.