After pulling an all night session, the state Assembly has approved a budget plan. The final vote came shortly after four Friday morning. To reach consensus Assembly Democrats conceded to a package of tax credits for movie studios and tech companies. The move prompted an angry letter from Senate President Pro-Tem Don Perata. Assembly Speaker Fabian Nunez says he’s not crazy about the idea either.
“I’m not enthusiastic about those but sometimes these things happen, one makes concessions that help get a budget done and I think we’ve got to look at the big picture here…”
Assembly Republican Leader Mike Villines says the credits will help spur the economy.
The budget must still be voted on in the state Senate which is expected to happen Friday.
The 103 billion dollar spending plan approved by the Assembly includes a three-point-four billion dollar reserve—touted by Democrats as the largest in history.