California Unveils Budget Plan Emphasizing Care, Housing and Reserves

California lawmakers announced a 2026-27 budget agreement that protects health care and safety-net programs, boosts housing opportunities, and increases funding for schools, childcare, and related services. The plan rejects or delays proposed cuts to IHSS and other safety-net programs, lowers health insurance premiums for some enrollees, expands housing investments and homelessness programs, and strengthens reserves with Rainy Day Fund reforms while laying groundwork for the Fair Share from Big Corporations Act to hold large corporations accountable for taxpayer subsidies.