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
Releasing reservoir water to keep salmon from dying is one of many tough water allocation decisions in this third year of the California drought.
California's drought is blamed for a big downturn in honey production.
Researchers say California has been overdrawing its water account for a century.
Researchers at UC Davis fear that California’s drought may soon claim its first victim, the Red Hills Roach. The tiny fish is losing its water. Scientists fear it may soon be pushed to extinction.
A UC Davis report shows the drought has brought positive and negative effects to Lake Tahoe.