IE Business Daily Business news for the Inland Empire.
Gov. Jerry Brown on Monday signed a $171 billion budget that increases assistance to poor people and sends more money to universities.
The spending plan, which Brown signed without using a line-item veto, also places $2 billion in the state’s rainy day fund, which ls meant to be a safety net in the event of a future economic downturn, according to a statement on the governor’s website.
“This solid budget makes responsible investments in California and sets aside billions of dollars to prepare for the next recession,” Brown said in the statement.
The balanced budget also includes $2 billion for deferred and state building construction along with $270 million in bonds for jail construction, according to the statement.
