Legislative leaders and the Governor are reportedly close to a deal on the state budget. While leaders have been careful to say there is no formal agreement yet, and no information has been officially released, certain details of the potential deal have emerged. A vote is expected as early as this Friday.
California State PTA released a statement on the emerging details of the plan earlier today.
The latest plan attempts to bring the state budget into balance over the next 17 months through:
- $15.8 billion in total cuts, with more than half of those cuts to education
- $14.3 billion in tax increases
- $10.9 billion in borrowing
- A spending cap on future budgets
As reported, the plan would have to go before voters as part of a package of several initiatives to approve elements such as borrowing future earnings from the state lottery, approving the spending cap, and taking funds from Proposition 10 (tobacco tax for early childhood programs) and Proposition 63 (upper income tax for mental-health programs).
We continue to monitor the status of negotiations in the Capitol closely, and we will provide more information soon about the details of the plan and actions you can take.
For more information about the potential impact of budget cuts to schools on a county-by-county basis, see the latest report issued by the California Budget Project.
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