2019-20 Budget Includes Balanced Investments – Cal Budget

On June 27, Governor Gavin Newsom signed into law the 2019-20 state budget, an agreement with state legislative leaders that makes a series of investments in creating economic security and opportunities for Californians, while also fostering the state’s fiscal health.

The budget includes revenues and transfers of $146 billion for 2019-20. This represents an increase of more than $4 billion over the enacted 2018-19 budget, driven largely by the state’s continued economic growth.

The budget package includes a mix of one-time and ongoing investments vital to low- and middle-income Californian’s economic prosperity, including: a significant expansion of the state’s Earned Income Tax Credit (CalEITC), additional investments in early childhood development, extending paid family leave, continuing to expand health coverage, boosting investments in the K-12 and state higher education systems, and promoting greater access to mental health services. The 2019-20 budget also provides funding for housing affordability and to address homelessness, recognizing that the high cost of housing continues to burden and destabilize many Californians. These proposals, individually and in combination, will significantly improve the health and well-being of millions of Californians, most notably low- and middle-income people of color, immigrants, and women and children.

Source: 2019-20 Budget Includes Balanced Investments – Cal Budget

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