Assembly budget leaders on June 15 put their 2026 spending plan on the record, saying the package balances the state budget for both this year and next while preserving about $29 billion in total reserves.
At an Assembly Budget Committee hearing, Jason Cisney of the Speaker’s office said the legislative plan assumes about $5 billion more in current-year revenue than the governor’s May revision and includes a $9.5 billion deposit into the Prop. 98 reserve. The hearing summary says the package also increases Proposition 98 school funding by about $2 billion and is expected to move to the Assembly floor later that evening.
The committee presentation described the budget as a response to federal cuts while avoiding deeper reductions to health care, child care and other safety-net programs. The summary says the plan rejects proposed cuts to child care, adds nearly 23,000 child care slots and shifts some state preschool programs into Prop. 98. It also outlines support for hospitals, county indigent care, clinics and dental care, along with housing and homelessness funding.
On housing, the summary says the package includes $200 million for the multifamily housing program, $500 million for the low-income housing tax credit and $900 million for homelessness services. It also says the plan includes courthouse funding, additional judgeships, an unallocated reduction to the Department of Corrections and Rehabilitation and a requirement to close another prison.
The committee record did not include final floor action, and the hearing summary notes that the package was expected to go to the Assembly floor later that evening.
