Report: Deal reached on California budget

February 11, 2009 11:15:02 AM PST
The Sacramento Bee is reporting that Legislative leaders and Gov. Arnold Schwarzenegger have reached a tentative deal on closing the state's projected $40 billion budget gap, according to sources close to the negotiations.According to the report, the plan involves tax increases, cuts and borrowing. The state also stands to receive billions in federal stimulus money as the package approaches closure in Washington.

Stay with ABC-30 and abc30.com for state budget updates.

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