$200 billion California budget deal rejects health care, tax breaks for undocumented
Gov. Jerry Brown and Democratic legislative leaders struck a $200 billion budget deal on Friday that rejected two proposals that would have expanded access to health care and tax breaks to undocumented Californians.
The budget sets aside enough money in reserves to fill the so-called Rainy Day Fund with a sum equivalent to 10 percent of general fund spending, almost $14 billion. It places another $2.2 billion in contingency funds for other unexpected emergencies, and creates two new reserve accounts that might provide flexibility in downturn.
That gives the state about $16 billion in total reserves, enough to weather a mild recession without severe cuts to government services, according to the Legislative Analyst's Office.
Brown in a news release crowed about the reserves, noting the turnaround in the state’s fortunes since he took office during a severe recession.
Read more: http://www.sacbee.com/news/politics-government/capitol-alert/article212824734.html
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