Gov. Brown Proposes $122B California State Budget
Gov. Jerry Brown proposed a $122.6 billion budget plan for California on Thursday that attempts to balance his fiscally restrained approach to spending with increasing demands for California to invest in social service and health care programs that suffered cuts during the recession.
The plan calls for significant increases in funding for education, health care and state infrastructure, while bolstering the state's Rainy Day Fund and paying down state debts and liabilities. It also includes a $1.1 billion compromise on a new tax on health insurers to replace one that will expire in June.
In addition, per-pupil spending would increase to $10,591. Schools are guaranteed about 40 percent of general fund revenues under voter-approved Proposition 98.
Brown said soaring tax revenues allow the state to boost spending on programs, but he also warned of the boom-and-bust cycle, proposing to put an additional $2 billion into the Rainy Day fund.
http://www.nbclosangeles.com/news/local/Governor-Jerry-Brown-California-State-Budget-364533851.html#ixzz3wcmPgKz1
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