Schwarzenegger Releases Budget Plan

December 31, 2008 12:00:00 AM PST
As expected, Governor Arnold Schwarzenegger's administration released a plan to close a $41.6 billion budget deficit. The proposal announced covers the rest of the current fiscal year and the next one starting July 1, rather than just a single year. It also comes early.

About two weeks ago, Democratic lawmakers passed an $18-billion dollar deficit reduction package. But the governor refuses to sign it saying it doesn't cut enough state spending or stimulate the economy.

The governor has had repeated phone conferences while on vacation in Idaho to resolve the standoff with democratic lawmakers.

Stay with Action News and ABC30.com for more on this developing story ..

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