MENU

Brown signs budget that reshapes K-12 spending

June 28, 2013 • Business


Gov. Jerry Brown signs one of the Medicaid expansion bills as part of the budget signing ceremony at the Capitol Thursday, June 27, 2013, in Sacramento, Calif. The bills,ABX11, authored by Assembly Speaker John Perez, D-Los Angeles, left, and SBX11 authored by Sen. Ed Hernandez, D-Covina, second from left, and Senate President Pro Tem Darrell Steinberg, D-Sacramento, third from left, will implement the federal Patient Protection and Affordable Care Act of 2010 to ensure healthcare coverage for Californians. (AP Photo/Rich Pedroncelli)

SACRAMENTO, Calif. (AP) — Gov. Jerry Brown signed a state spending plan for the coming fiscal year Thursday that makes budget-busting deficits a distant memory, funnels billions of additional dollars to K-12 schools and begins restoring social service programs that were cut during the recession.

The budget also expands Medicaid to an additional 1.4 million low-income Californians, adopting an optional provision of the federal Affordable Care Act.

“This is a momentous occasion, because we have a balanced budget not proposed but actually actualized, the first time in probably a decade or more,” the governor said moments before signing the spending plan for the fiscal year that starts Monday.

It includes a $96.3 billion general fund, the state’s main account for paying ongoing expenses. The size of the general fund and a reserve account of $1.1 billion reflect the continuing recovering of California’s economy and $6 billion in voter-approved taxes.

Declining tax revenue during the recession had cut the general fund to as low as $87 billion just Login to read more

Related Posts

Comments are closed.

« »