Gov. Arnold Schwarzenegger and California legislators announced a tentative deal to eliminate a $26 billion deficit Monday evening, with state agencies looking at billions of dollars in cuts as part of the plan. Schwarzenegger said the “basic agreement” includes no tax increases, which his fellow Republicans in the state Assembly and Senate had refused to support.
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California budget crisis jeopardizes 20,000 jobs
California lawmakers were told to bring their toothbrushes and prepare for a long day Tuesday, with the goal of passing a budget as the state faces a $42 billion deficit and 20,000 layoff notices were set to go out to state workers Tuesday.