Lawmakers are meeting Wednesday to approve the next state budget, hitting their deadline for a new spending plan. The budget deal would remove detailed transparency requirements for a new accounting system. The proposal includes $170.9 billion in state spending, which includes the general fund, dedicated funds and bond money. Jerry Brown backed a $2 billion bond to help the homeless earlier this year. Legislative analysts said it was a good idea for the state to stockpile more money in reserve to guard against an economic downturn.

Source: Los Angeles Times June 15, 2016 17:53 UTC