State Assembly Approves Budget Plan; Goes To Governor Next

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(Sacramento, CA)
Friday, July 24, 2009
The assembly has approved the few remaining budget bills sent over from the senate. Assembly work was delayed for a short while due to a computer glitch. It also was embroiled in heated debate over a plan to expand offshore oil drilling in Santa Barbara County that would generate 100-million dollars for the state in the current fiscal year. 
After a slow start on bills last night, the senate was able to finish its work on the budget package around 6:30 this morning. 
To close the door on the state’s massive cash shortage, Governor Schwarzenegger and legislative leaders came up with more than 15-billion dollars in spending cuts...about eight-billion in borrowing, and they’ve shifted spending in other proposed creating a multi-million dollar reserve fund for future fiscal emergencies.   With approval of the budget package approved in both chambers...the bills now move to the governor for his signature. No word on when that may happen.