SACRAMENTO, Calif.- Governor Jerry Brown has signed the state's 92 billion dollar budget.
The budget relies on voters approving the governor's tax hike initiative in November, which will raise the state sales tax and increase income tax on higher earners. If the governor's tax hike plan fails with voters, a series of automatic cuts will be triggered.
The governor plans to veto some individual items as he signs the budget bills but details are not expected until Thursday.
Significant details of the 2012-2013 state budget include: increases funding for education, keeps higher education affordable for low income students, protects public safety, cuts state employee compensation costs, reforms welfare, builds reserve of nearly $1 billion, restructures funds for trial courts, reduces corrections spending and implements long term corrections solutions.
