In a new policy brief, we preview the upcoming 2015–17 state budget. It is based on a budget outlook presentation from the Office of Financial Management.

The upshot is that even before considering new education funding under the state Supreme Court’s McCleary decision, legislators face a significant budget challenge. If voters approve Initiative 1351 (which would reduce class sizes for grades K-12), the outlook will be much worse. (For more on I-1351, see here.)