SACRAMENTO, Calif. (AP) — California lawmakers are expected to vote Friday on an on-time Democratic spending plan that includes a historic education funding shift to boost the fortunes of school districts with high numbers of poor and minority students while restoring some social services that fell victim to the recent recession.
The new $96.3 billion state budget negotiated by Gov. Jerry Brown and legislative leaders benefits from California's recovering economy and a tax increase approved by voters last fall. It contains a $1.1 billion reserve and pays down some of the "wall of debt" the state accrued during a series of budget crises marked by multi-billion dollar deficits.
Brown will get to claim success in holding the line on spending by demanding that his fellow Democrats use his more conservative revenue projection, rather than what he says are volatile capital gains revenues.
"Look, we have boom and bust; money comes in, money goes out," Brown said this week as he announced the compromise with legislative Democrats. "And I'm trying to be a good, prudent steward of the people's money."
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
