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You get labeled politically that you just want tax increases, but I just want reliable revenues. This roller coaster thing is not a lot of fun.

New Mexico state Sen. John Arthur Smith, a Democrat, who is concerned about the part of the GOP tax bill that will cost Western states nearly $1.3 billion in oil, gas and coal royalties. The volatility of the oil market has caused major budget problems in New Mexico and several other states.

New Mexico state Sen. John Arthur Smith, a Democrat, who is concerned about the part of the GOP tax bill that will cost Western states nearly $1.3 billion in oil, gas and coal royalties. The volatility of the oil market has caused major budget problems in New Mexico and several other states.

Caroline Cournoyer is GOVERNING's senior web editor.
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