California Budget Impasse Ends

September 16, 2008 12:00:00 AM PDT
Tuesday Morning California lawmakers have ended the longest budget impasse in state history.The final action in the assembly came after an all night session that ended just after 2 a.m. The senate had already approved the plan.

The $145-billion dollar proposal relies on accelerated income tax payments rather than on borrowing or new taxes.

Assembly Speaker Karen Bass said she's glad the plan doesn't call for deeper cuts to some programs, but that the system needs to be changed.

It's not clear if Governor Schwarzenegger will sign the bill. He has said he would not sign a budget that didn't include long term financial solutions and his requests for a stronger savings account.


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