FRESNO, Calif. (KMJ) — California legislative leaders and Gov. Jerry Brown have struck an agreement on a $180 billion spending plan.
Among other things, it would bump the state’s Rainy Day Fund to $8.5 billion this coming fiscal year, expand the Earned Income Tax Credit, and use revenue from the latest tobacco tax increase for Medi-Cal.
Public schools and colleges also stand to gain more than $17 billion.
The budget now awaits the approval of the Senate and Assembly.
It’s required under a voter-approved deadline to be on the governor’s desk by Thursday night.
