"We will vote on a new piece of legislation that will essentially, um, increase the penalties for corporations who underreport their earnings. In addition, we will give the governor the three items of budget reform that he asked for. Those two points closes the deal, and brings these 80 days to an end," said Assembly Speaker Karen Bass.
Governor Schwarzenegger had threatened to veto the budget lawmakers passed Tuesday. The governor called the previous plan fiscally irresponsible.
Schwarzenegger has not yet officially agreed to Thursday night's budget compromise.
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