Senator McGuire’s statement on State Budget agreement
Sacramento, CA – Senator Mike McGuire (D-Healdsburg) issued the following statement on the State Budget agreement reached today between the Governor and the Legislature: “By working together, we’re bringing forward a balanced budget, investing in priorities that make this state great and tackling some of our toughest challenges. We’re reinvesting in stronger public schools and programs that will combat poverty, we’re helping Californian’s tackle the challenges associated with our historic drought and we’re building the strongest rainy day fund this state has seen in a generation,” Senator Mike McGuire said. “This is a smart budget that demonstrates strategic investment while showing fiscal restraint and paying down debt.”
- The budget agreement prioritizes public education by investing more than $68 billion –approximately $10,000 per pupil – an increase of 15 percent in just two years.
- It sets aside an unprecedented $4.6 billion into the state’s rainy day fund and reserve – the largest in decades. In addition, the agreement dedicates $1.9 billion to paying off debt.
- As the state grapples with this historic drought, the budget contains an additional $2 billion to help communities tackle the challenges related to its impacts.
- This year’s budget will invest $265 million for Early Childhood Education programs, which will fund 7,000 additional preschool slots and 6,800 child care slots.
- It will create an additional 10,000 new slots in the California State University System and 5,000 new slots in the University of California system (in addition to a two year tuition freeze).
- The legislative budget creates the state’s first Earned Income Tax Credit to assist the lowest income workers, which will provide $380 million in tax relief to 2 million Californians.
Senator McGuire knows there is much more work ahead which is why the Legislature and the Governor have agreed – in the coming weeks – to convene a special session of the California Legislature which will be focused on fixing our state’s crumbling roads and highways and stabilizing the state’s main health program, Medi-Cal.
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