California's budget comes with record spending … and a call for restraint

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Last year, Brown signed a $125 billion general fund budget for the current fiscal year that became the largest in state history. Proposition 2, which was passed by voters in 2014, established a constitutional goal of reserving 10 percent of the taxes in the Rainy Day Fund.

Mr. Brown's two most immediate predecessors were consumed by state budget woes at the end of their tenures.

"We do need to invest more, I believe, in education, as well as higher education, especially with those children who have the least opportunities to prosper economically", De León said. Might I be so bold as to suggest that we might even want to pay more into the rainy-day fund and into the unfunded liabilities with this one-time surplus? Almost 70% of the state's projected revenue of about $135 billion next fiscal year is derived from personal income taxes, according to the governor's office. In a news release, Brown said full implementation of the LCFF, which was enacted in 2013 to increase support for the state's neediest students and allow school districts to have more flexibility over how money is spent in schools, is two years ahead of schedule.

"As it relates to poverty, the governor stated that unlike other states, California has a good system of support, but it is modest", said Sen.

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Brown does call for spending $4.5 billion in new gas tax and vehicle fee revenue on road repairs and public transit projects.

Brown's budget would direct $1.3 billion to natural resources and housing infrastructure spending presuming that state bond measures passed by the Legislature previous year will be approved by voters in November. Dodd's district, which includes all or portions of Napa and Sonoma counties, was heavily impacted by the wildfires in October.

The state receives 70% of its revenue from income taxes and half of that comes from the top 1%, making the state dependent on capital gains earned in the stock market and resulting in huge revenue swings, Brown said. "I will be working with the administration and my colleagues in the Legislature to expand our efforts on disaster recovery and preparedness". Previously, Gov. Brown asked California Community Colleges chancellor Eloy Ortiz Oakley to "take whatever steps are necessary" to establish an institution that only offers online programs.

"The key to this budget is that California has a very volatile tax system", Brown said.

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"The next governor is gonna be on the cliff", Brown said during his final remarks. "California community colleges are serving 2.1 million students each year, but we are still not meeting the needs of 2.5 million others who for a variety of reasons can not attend classes on our campuses", he said.

The Legislative Analyst's Office projects general fund revenue of $135 billion for the upcoming budget year, nearly $40 billion more than the state collected eight years ago.

Republicans in the state Senate were supportive of the Rainy Day Fund proposal but felt other areas would only raise taxes.

Local lawmakers are reacting to the budget. The Senate is committed to protecting that progress, and building for the future with this budget. Tom Berryhill (R-Modesto) said in a statement. If you were to get a healthy bonus because your company is doing well, would you spend all of it on new obligations or would you be smart to immediately pay off your credit card and sock some money away for a rainy day?

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