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$19.1-billion budget deal reached in California

Gov. Arnold Schwarzenegger and top lawmakers said Friday night that they have reached a deal to close the state’s $19.1-billion deficit.
 
Senate President Pro Tem Darrell Steinberg (D-Sacramento), flanked by three other legislative leaders, proclaimed a "comprehensive agreement," although he offered no details about what it contained.

 “The details will come out next week," said Aaron McLear, Schwarzenegger's press secretary.

Lawmakers promised a full hearing on the deal early next week and a vote of the Legislature as early as Thursday.

Read the full story at PolitiCal, The Times' politics blog.

-- Shane Goldmacher in Sacramento

 
Comments () | Archives (7)

FINALLY

More taxes and fees-you can be sure of that.

If they did not make significant progress on State Worker Pensions, this is simply a bandaid on a gaping wound...

And next budget year, we'll have the same problem and probably even worse ! A budget deficit of $30 billion!

As a citizen of California,I just wanted to say that i'm willing to pay extra taxes if that's gonna keep this state from going down a hole....California has the largest economy in the Country and one of the largest in the World....This state is worth saving,but it's gonna take more than just those Politicians up in Sacramento to keep California moving forward,it's gonna take all the residents of California as well.

Pay more taxes ? SO they can spend more on crap no one needs , like a high speed train . It will be just like Amtrack , a money pit . Thank you very much , politicians ( lawyers and thiefs )

I'm not digging the "optimistic returns for future investment" for to get 1.5 billion dollars. To be honest the state needs to cut back every where and institute a temporary tax hike to pay down the budget deficit then institute a "pay as you go" to fix it permanently.

I'm all for tax cuts and social programs, but ONLY if we can afford it. I'm tired of this partisan bickering and these "rob peter to pay paul" policies.

If we can't afford it, we can't afford it. Make the hard decisions.


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L.A. Now is the Los Angeles Times’ breaking news section for Southern California. It is produced by more than 80 reporters and editors in The Times’ Metro section, reporting from the paper’s downtown Los Angeles headquarters as well as bureaus in Costa Mesa, Long Beach, San Diego, San Francisco, Sacramento, Riverside, Ventura and West Los Angeles.
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