California Gov. Newsom to release his 1st state budget

Gov. Gavin Newsom was expected to release his first state budget today, offering an outline of his plan to boost spending on services for children while maintaining fiscal prudence.

Newsom's proposal, which he'll discuss during a morning news conference in Sacramento, kicks off six months of negotiations with the Legislature. Lawmakers have until June 15 to approve a balanced spending plan or lose pay.

Newsom has already outlined more than $2.5 billion in spending proposals focused on early childhood education and health care. He also plans to ask lawmakers to vastly expand the state's paid leave program for new parents. He's framed his budget as a "California for All" agenda that looks to close the gaps between rich and poor.

The Democratic governor is announcing his plans during a time of sustained prosperity in California, which clawed back from a $27 billion deficit following the Great Recession that required deep and painful cuts to education, health care and just about every other service offered.

This year, state revenue has soared since lawmakers and former Gov. Jerry Brown approved a $139 billion budget for the fiscal year that ends June 30. The nonpartisan legislative analyst projected in November that lawmakers would have a $15 billion surplus to allocate next year on top of $15 billion in the rainy day fund, which is at the maximum allowed under the state Constitution.