State Budget Update: Vote This Week?
There’s no fix yet for California’s budget crisis…..but there’s hope of an agreement sometime this week. Legislative leaders and the Governor met over the weekend, and are set to meet again Tuesday.
Monday, February 9, 2009
Lately legislative leaders have said they’re very close to a deal to solve the state’s 40 billion dollar deficit. In fact, Democratic Senate Leader Darrel Steinberg says he’s committed to a vote this week. Negotiations are private, and leaders aren’t sharing specifics, but any plan is likely to include tax hikes and deep cuts. California is already short on cash – and the Controller is delaying many payments. That includes tax refunds, and money for programs that help the poor. And more than 200-thousand state workers took an unpaid day off Friday. Governor Schwarzenegger ordered the furloughs to save the state money. Meantime, one rating agency has dropped the state’s credit rating because of the budget mess.