Calif. Gov, Legislative Leaders Reach Budget Deal
Saturday, October 2, 2010
Gov. Arnold Schwarzenegger and legislative leaders say they've reached a budget deal.
The governor and lawmakers say after nearly five hours of talks Friday they agreed on a deal that breaks the record-long budget impasse and attempts to close California's $19 billion deficit.
No details have been released, but the governor had indicated he wouldn't sign a budget unless lawmakers agreed to series of pension reforms he was seeking.
Senate President Pro Tem Darrell Steinberg say there was "not a lot of celebrating," suggesting it was a tough compromise with both sides making concessions.
Legislative leaders say they still need time to share details with lawmakers before the budget can be put to a vote.