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Home / CA: Legislators Finally Reach Budget DealCA: Legislators Finally Reach Budget Deal
Last Updated on Monday, 15 September 2008 11:30 Written by rslcpol Monday, 15 September 2008 11:30
From MercuryNews:
Legislative leaders said Sunday they had reached an agreement to end the record-long 76-day stalemate over the state budget.
The proposal, which could be voted on as early as today, would sidestep new taxes and avoid borrowing billions of dollars from local governments and transportation. It would rely on spending cuts and accounting maneuvers to close a $15.2 billion deficit this year, perhaps exacerbating future budget shortfalls.
It is unclear whether Gov. Arnold Schwarzenegger will embrace the agreement, which Democratic and Republican legislative leaders reached on Sunday after a flurry of negotiations late last week and into the weekend