Brown Signs $85.9 Billion State Budget

Gov.  Jerry Brown today signed the 2011-‘12 state budget, SB 87, approving an $85.9 billion spending plan for the state.

The majority-vote budget package, crafted by Democratic leaders and Brown and passed without Republican support, relies on spending cuts, a projected $4 billion rise in tax revenue and fee increases to close a $9.6 billion deficit.

It also includes some $2.5 billion in mid-year “trigger” cuts that would be made if revenues fall short of the projections. The package outlines three tiers of trigger cuts based on how much of the $4 billion in projected revenues materializes.

“This is an honest but painful budget that returns California’s General Fund spending to levels unseen since the 1970s. We’ve cut our deficit by $15 billion dollars and achieved financial balance this year. This is a huge step forward. But California’s long-term stability depends on our willingness to continue to pay down debt and live within our means,” said Brown in a statement.

The budget includes $23.8 million in line-item vetoes.

The 2011-'12 state budget is available in full at www.ebudget.ca.gov.

Read more in the Sacramento Bee.