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Legislators Agree to State Budget
Submitted on:
02.19.2009
Early Thursday morning the California Legislature passed a budget plan that will help close the $42 billion budget deficit. A few items in the budget include raising the sales tax by one percentage point and adding a surcharge on state income taxes, which will generate up to $13 billion. Other items include $700 million in tax breaks to large corporations and no gas-tax increase. State Sen. Abel Maldonado (R-Santa Maria) provided the much-needed Republican vote to end the 15-week battle and the longest state Senate session in history. Not soon after the Senate's decision, the state Assembly met and swiftly sent their approval of the budget. Gov. Arnold Schwarzenegger is expected to sign the plan by the end of the week.
Click on the articles below to follow the California budget coverage.
The Wall Street Journal
San Diego Union-Tribune
Sacramento Bee
San Francisco Chronicle
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