, this is Governor John Bel Edwards.
I was proud to sign a responsible budget that invests heavily in the things that improve the lives of every day Louisianans, including education at every level and infrastructure across the state. This will propel us forward in the coming fiscal year on a strong path to continued success.
This is the best budget for higher education in Louisiana's history, and it includes pay raises for faculty and support staff. Also, this is the fifth and largest K-12 teacher pay raise in Louisiana since I've been Governor.
Working with the Legislature, we have been able to make historic investments in several large-scale infrastructure projects including the Mississippi River Bridge in Baton Rouge, the bridge in Lake Charles and the I-49 Lafayette Connector. We again refused to spend any non-recurring revenue on recurring expenditures. In fact, more than $200 million of recurring revenue was allocated to non-recurring expenditures. This is sound fiscal policy.
Because of our efforts to match revenue and expenditures and pay off debt, Moody's has upgraded Louisiana's issuer rating and revised its outlook for our state to stable. This resulted because of the hard work my administration and the Legislature have done together to get Louisiana's finances under control.
This budget and the improved outlook for the state are a testament to the good things that happen in Louisiana when we work together for the good of the people.
Will you chip in $25 to help support efforts to continue investing in progress in Louisiana?