Gov. Jerry Brown details budget numbers at Capitol
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Gov. Jerry Brown’s budget proposal, which he is detailing this morning at the Capitol, includes $97.7 billion in general-fund spending, an estimated 4% increase over the current year.
The budget will also include $40.1 billion in spending from special funds, which are more than 500 accounts dedicated to various programs and initiatives. The governor plans to spend another $7.2 billion in bond funds.
The rising costs of healthcare, financial aid for college students and the state’s debt obligations are some of the driving forces behind spending increases, according to the nonpartisan Legislative Analyst’s Office.
State funding for local schools, which is determined by a legal formula, is also set to increase by roughly $2 billion.
Brown has pledged to keep a tight lid on spending to prevent the state from sliding back into the steep budget deficits of past years.
The budget has been buoyed by an estimated $6 billion in new taxes from Proposition 30, the ballot measure promoted by Brown and approved by voters in November. In addition, voters passed Proposition 39, which adds another $1 billion in annual tax revenue. Half of that money is dedicated to clean-energy programs.
-- Chris Megerian in Sacramento