Passage of Budget Package by Constitutional Deadline is met by Both Houses

SACRAMENTO – The California State Assembly today passed a comprehensive budget package, meeting the constitutional deadline of June 15th for a balanced on-time budget.

“Today’s action by the Legislature balances the budget and puts California on track to have a balanced budget every year for the next few years, ultimately resulting in a two billion dollar reserve in the 2015/16 fiscal year,” said Speaker John A. Pérez. “Putting our fiscal house in order is necessary if we are to engage in the planning and long-term investments in areas like infrastructure, education and 21st century job creation, and even though this budget contains many difficult decisions, it puts us on a pathway to begin reinvesting in opportunities for Californians.”

Speaker Pérez noted this budget protects and invests in public education this year and in the future, with a $17 billion increase in Proposition 98 funding over four years.

In addition to protecting schools, the package provides a sensible plan that not only closes the deficit for this year, it erases $20 billion in structural deficit California was facing 18 months ago, and provides a reserve of roughly $2 billion by fiscal year 2015/2016.

Website of Speaker John A. Pérez: www.asmdc.org/speaker

CONTACT:   John Vigna (916) 319-2408