Assembly Budget Committee reviews final three‑way budget agreement, highlights shifts in education, health and climate funding

At an informational hearing of the Assembly Budget Committee, Jessica Holmes of the Department of Finance presented the administration’s summary of the final three‑party budget agreement reached with the Legislature and the governor’s office. Holmes said the deal reflects an effort to protect core safety‑net programs while responding to ongoing revenue uncertainty.

Holmes told the committee that “California was and continues to face uncertain economic and fiscal times,” and that the agreement includes a mix of one‑time and ongoing reductions to balance the budget while preserving priority investments. Among the items the Department of Finance highlighted were a $1 billion shift tied to fire protection activities, major Proposition 98 allocations for K‑12 and community colleges, targeted one‑time assistance for housing and homelessness programs, and…