Pro Tem Steinberg, Governor Brown, Speaker Pérez Announce Budget Agreement
(Sacramento) – State Senate President pro Tempore Darrell Steinberg, Governor Jerry Brown and Assembly Speaker John A. Pérez have jointly announced agreement on a 2013-14 California state budget that aggressively pays down debt, establishes a robust reserve, and funds modest targeted investments to strengthen California. The agreement on the $96.3 billion General Fund Budget announced today at a Capitol press conference also includes a compromise on the Governor’s Local Control Funding Formula, raising per-pupil spending for kindergarten through 12th grade across the board while significantly increasing funding for disadvantaged students.
“Our responsibility is to maintain fiscal balance, and that’s exactly what we’ve done in this budget with a $1.1 billion dollar reserve and more than four billion dollars allocated to pay down state debt. Within that, we’ve also found some room to make up for some of the most damaging cuts we were forced to make in past years,” said Steinberg (D-Sacramento). “By restoring adult dental care, improving crisis mental health services, and expanding career technical education, we will save taxpayers’ money in the long run and strengthen our economy while reaching out to help millions of Californians in need.”
“At the same time we’ve committed to stronger investment in our children’s education. We reached a compromise to increase funding for all our students in all school districts, while providing significant extra money for low income students, English learners and foster youth. No one is a loser under this formula, and the entire state wins with enhanced resources for education.”
Video of the press conference can be found here.
The budget bill is expected to be in print by Wednesday with Senate and Assembly floor votes anticipated Friday or Saturday. The Constitutional deadline for the Legislature to pass a balanced budget is 12 Midnight, Saturday June 15, 2013. The Governor has until June 30, 2013 to act on the budget.
Please find attached a listing of budget highlights and an outline of the Local Control Funding Formula compromise.