Sacramento, CA – Senator Mike McGuire issued the following statement in response to Governor Newsom’s May Budget Revision released this morning:
“Governor Newsom’s forward-looking budget revisions reflect the need to build up our rainy day fund and pay down billions in debt in good financial times while investing in programs that will help the Golden State continue to grow. An additional $1.2 billion will be invested in our rainy day fund, bringing us to a record $16.5 billion. We’ll need every penny when the economy slows.
“We’re looking at a record level of spending in K-12 public schools with $5,000 more per student compared to eight years ago, driving down the cost of college by making the first two years of community college free for full time students and investing billions in affordable housing, homeless services and fixing our roads and highways.”
As a member of the Senate Budget and Fiscal Review Committee, Senator McGuire said, “I look forward to working over the next month to pass a balanced budget that works for the people of California and tackles some of our toughest challenges.”