California Budget

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California Pays Off $15 Billion In Costly Debt From 2004

California is set to make its final payment on $15 billion in costly borrowing championed a decade ago by then-Gov. Arnold Schwarzenegger.


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California Legislature Approves Compromise $115.4B Budget

California lawmakers on Friday passed a compromise budget to meet Gov. Jerry Brown’s demands for restrained spending, even as the package sends billions more to public schools and increases spending on health care and social services.


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Brown, Lawmakers Agree On $115.4B Budget

Gov. Jerry Brown and legislative leaders have reached a deal on a California budget with $115.4 billion in spending in the upcoming fiscal year.


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California Legislature Passes Record $117.5B Budget

California lawmakers approved a $117.5 billion Democratic spending plan Monday that would send more money to public schools and establish a new tax credit for the working poor, as legislative leaders continue to negotiate a final deal with Gov. Jerry Brown.


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Gov. Brown’s Budget Plan Expected To Include Catastrophic Cuts To In-Home Care Services

Activists are concerned the changes Gov. Jerry Brown plans to make to California’s budget Tuesday will include huge cuts to resources for in-home caregivers.


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Lawmakers, Brown Compromise On Rainy Day Fund

Gov. Jerry Brown and legislative leaders on Thursday agreed to replace the rainy day fund measure on the November ballot with a bipartisan plan that would set aside revenue of up to 10 percent of California’s general fund and dedicate money to paying down the state’s massive debts and liabilities.


Gov. Jerry Brown (Photo credit: Justin Sullivan/Getty Images)

California Resurgent Under Brown, But Spending A Worry

Gov. Jerry Brown is drawing praise and glowing reviews from the national media for his deft political maneuvering in closing a $25 billion budget deficit and restoring some of California’s financial luster after years of recession.


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Gov. Brown Proposes $96.4 Billion Spending Plan With Emphasis On Education

Riding a wave of state tax revenue, Gov. Jerry Brown released a budget proposal Tuesday that looks much different from the ones Californians have become accustomed to in recent years — It has a surplus.


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Brown: California Now Faces $16 Billion Shortfall

Gov. Jerry Brown says California’s budget deficit has grown to a projected $16 billion.


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California Revenue Up, But Brown Still Pushes Tax Hikes

Gov. Jerry Brown has released a revised state budget that calls for a 5 percent increase in spending over the plan he released in January but says a renewal of expiring tax increases is still needed to close California’s remaining budget deficit.



California Budget Picture Looks Murky With Stalled Talks

The end of budget talks between Gov. Jerry Brown and Republican lawmakers has shrouded California’s fiscal future even more, leaving officials cautious about publicly saying what options remain.

CBS2 / KCAL9–03/30/2011

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Crunch Time Approaches To Strike Budget Deal

Efforts by Gov. Jerry Brown and Democratic lawmakers to court a handful of Republican lawmakers are expected to intensify this week as they seek to compromise on a plan to send a tax vote to the ballot.


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What Do Tax Hikes Cost Californians In A Year?

Californians have been paying more on just about everything the past two years, from TV sets to vehicle licenses to income taxes.


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Gov. Brown Asks For ‘Top 10’ Lists To Cut Waste, Improve Efficiency

Gov. Jerry Brown is taking a page from David Letterman’s playbook and asking California’s top watchdog agencies to create “Top 10” lists for cutting waste and improving efficiency.


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Lockyer: California May Be Forced To Issue IOUs Without Spending Cuts

State Treasurer Bill Lockyer says California could be forced to issue IOUs as early as April or May if state lawmakers don’t make deep spending cuts soon.