California Proposed Budget Puts Emphasis On Education Spending

 

Reuters (8/5, Respaut) reports that legislative analysts in California said the state’s proposed budget for the next fiscal year shows $152.3 billion in spending that includes a lot more money for education and contains a plan to fund the $189.1 billion pension system for teachers that would take 32 years. Overall, the budget proposes to spend 8.6 percent more than last year. The budget contains increased funding for schools as well as community colleges to make education an overall focus. The budget would draw down reserves from $2.9 billion to $2.1 billion, but a better economy and new sources of tax revenue mean the state likely will have another deficit-free year.

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