On Thursday, California’s record budget standoff ended “when Gov. Arnold Schwarzenegger and legislative leaders struck a deal, avoiding the governor’s promised veto of a spending plan the Legislature approved earlier in the week.”
Today, the $104 billion budget is expected to be approved by both the Assembly and Senate.
The budget “eliminates proposals for extra withholdings from workers’ paychecks and revenue from a tax amnesty program. It bridges a $17 billion budget gap in part by increasing penalties on corporations that underpay income taxes and reduces reserve funds, legislative leaders said.”
Other articles of interest include: