Gov. Nathan Deal releases 2014 budget - WRCBtv.com | Chattanooga News, Weather & Sports

Gov. Nathan Deal releases 2014 budget

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ATLANTA (WRCB) -

Governor Nathan Deal signed the 2014 fiscal budget Tuesday which will take effect July 1.

This is the third year in a row Deal balanced the state budget while reducing government spending.


RELATED LINK | 2014 Georgia Budget

Some highlights of the budget include general fund growth of 4.6 percent or $818.5 million, $246.7 million to cover the growth in expenses for Medicaid and PeachCare, $12,915,130 to increase the Pre-K calendar to 180 days, providing $312 million in lottery funds for 84,000 slots for 4-year-olds, $50 million in bonds for the deepening of the Savannah Port, and $5 million in additional funds for cancer-related research and $45 million in bonds for a new cancer research building at Georgia Regents University.

"The General Assembly and I have once again enacted a budget that holds the line on spending, while funding the priorities that continue to help make Georgia the No. 1 place in the country in which to do business and create jobs," Deal said. "Even with improving revenue numbers, state government faced another round of cuts because of the growth of expenses in education and in our Medicaid program. I commend the General Assembly once more for its responsible work, which focuses on the core functions of state government."

The budget implements austerity cuts to reduce government spending, does not raise taxes, and preserves Georgia's AAA bond rating.

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