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Calif. Gov, Legislative Leaders Reach Budget Deal

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.

Comments

Avatar for user 'LeckerUndLustig'

LeckerUndLustig | October 5, 2010 at 12:30 a.m. ― 3 years, 11 months ago

Yeah!! Thank you for holding out. It is necessary to change pension plans. Taxpayers are paying for extravagant pensions, for which we never get ourselves (those of us that work at Taco Bell). More really needs to be done, but this is a start.

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