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Jerry Brown's California budget: Pay down debt; more money for schools

A news conference by California Gov. Jerry Brown is underway as he releases his latest budget plan. The proposed budget details how Brown plans to use the state’s improving economy to fuel billions of dollars in new spending while helping to pay off debts and save money for a rainy day.

The governor's announcement comes one day ahead of schedule, after a leaked copy of his 271-page budget document began circulating Wednesday evening.

Brown wants to spend $10 billion more on schools, including money owed from previous years. He proposes some controversial new funding for bullet train construction. And he wants nearly $700 million more for Medi-Cal, the state’s healthcare program for the poor, which is expanding under President Obama’s federal overhaul.

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