The money is intended to help farmers, farm workers and rural communities.
Mr. Obama held a roundtable in Firebaugh, about 45 minutes west of Fresno. Valley Public Radio's Rebecca Plevin spoke with a fourth-generation farmer there today and says money isn't enough.
"They don’t need financial aid right now; what they need is water. And he says that in the short term, they need to start pumping water from the Delta; and in the long term, they really need more water storage," reports Plevin.
The President is also visiting a farm in Los Banos this afternoon.
Joining him on the trip are California Governor Jerry Brown, U.S. Senators Dianne Feinstein and Barbara Boxer and Congressman Jim Costa.
CapRadio's Drought Coverage
A new report says more people in California are at risk from wildfire and fires are starting earlier and are three times larger than in the 1970s.
A new study finds California’s Central Valley has three times more water beneath it than previously estimated.
UPDATE June 26: Fire managers says the Erskine Fire near Lake Isabella in Kern County has grown to 43,460 acres and is 40 percent contained. Two people have died, and more than 250 structures have been destroyed and an additional 75 damaged.
Four consecutive years of drought, millions of dead trees and summer heat, are all factors as thousands of firefighters work to control wildfires in California.
Not much change is expected in drought conditions in California during the summer "dry season" but wildfire danger is increasing, with 66 million dead trees in the Sierra Nevada adding potential fuel.