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
Record dry January expected in many Northern and Central California cities as drought drops reservoir levels.
The California Department of Water Resources says the state’s snowpack is “dismally meager.” A lack of snow in the Sierra is keeping rivers low and drying up some reservoirs.
The City of Roseville is yanking grass and replacing it with drought-resistant landscaping to conserve water. Roseville also offers homeowners a 'Cash For Grass' rebate program.
The City of Sacramento says water customers in 2014 "cut water use to the lowest level per person per day in 100 years."
Salmon rely on cool water temperatures and aquatic plants to survive. So California’s drought has hit them particularly hard. But UC Davis researchers have found one area where the fish are flourishing.