The amount of money reaching California from the current stimulus bill is substantial, as this Los Angeles Times article notes.
“Reporting from Sacramento and Washington — The $789-billion economic stimulus bill headed toward congressional approval is expected to pour $26 billion into California -- building roads, upgrading schools and launching other projects intended to create or save jobs.
“The expectation is that the federal government will funnel at least $9.2 billion directly to the state treasury, mostly for education and healthcare, in the next 18 months. Millions of Californians will get a tax cut aimed at promoting consumer spending.
“But the money will only go so far in easing the state's financial pains.
“In Sacramento, lawmakers are gearing up to vote in the coming days on a state budget package that will hit Californians with nearly half a dozen new taxes and deep spending cuts in almost everything state government does. The federal windfall won't stop that from happening.
“The state's deficit through mid-2010 is $41 billion, and not all of the federal money can be used to help erase it. Some won't arrive on time. Some is specifically directed to other purposes.
“Still, lawmakers say the legislation's effect will be profound. "California cannot do without this bill," said Rep. Lois Capps (D-Santa Barbara).”