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You are here: Home Newsroom Education News Roundup Archive 2010 October 2010 California assembly OKs $87.5B proposal

California assembly OKs $87.5B proposal

  • 10-08-2010
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By Kevin Yamamura/Sacremento Bee

On the 99th night of the fiscal year, California lawmakers were still debating late Thursday whether to pass a budget, already the latest in state history. The $87.5 billion package relies on optimistic assumptions about revenues from taxpayers and the federal government, as well as reductions to state worker pay, prisons and social services. Pending legislative approval, Gov. Schwarzenegger hoped to sign it as soon as today.
State leaders faced a $19 billion deficit that was the result of faulty solutions in last year's budget, as well as a prolonged downturn and a permanent imbalance between how much California spends and how much it receives in revenues. (more…)

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