Brown’s final budget stashes billions in reserve
By Adam Ashton, Sacramento Bee
In his 16th and final year as governor, Jerry Brown is using a surplus to stash away billions of dollars in reserves that would help his successor weather a recession while boosting some of his signature programs.
He’s proposed a $190.3 billion spending plan on Wednesday that accelerates funding for his 2013 education law and uses new gas tax revenue to fund $4.6 billion in new transportation projects.
The centerpiece of his plan, though, is a $5 billion jolt to the state’s so-called rainy day fund, which he championed with a 2014 ballot initiative to steady California’s boom and bust finances.