Tentative budget deal announced by lawmakers

September 15, 2008 |
Valor

On Sunday, California state legislative leaders announced a “breakthrough in California’s record budget impasse, potentially ending a stalemate that set a new standard for dysfunction in a Capitol with a long history of blown budget deadlines.”
The Associated Press reported that it is not clear “whether the tentative deal would be accepted by Gov. Arnold Schwarzenegger, who has said he would not sign a budget that failed to include long-term reform.”
The tentative budget deal would include $9 billion in spending cuts, closing tax loopholes and collecting some “one-time revenues in this fiscal year rather than the next.”
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