Jun 20, 2014 7:23 AM
SACRAMENTO, Calif. (AP) - Gov. Jerry Brown is scheduled to sign California's $108 billion budget for the coming fiscal, a spending plan built on temporary tax increases and surging revenue from the booming stock market.
The budget for the fiscal year that starts July 1 meets the governor's demands for a rainy day fund and paying down debt. His signing ceremony is scheduled for 9:45 a.m. Friday in San Diego.
Brown also allowed new spending for the priorities of Democratic lawmakers, including a welfare expansion and preschool for low-income 4-year-olds.
Republicans called the budget a mixed bag. They praised the use of a more conservative revenue projection while criticizing its spending increases for permanent programs.
The new budget is the highest general fund spending plan in state history.
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