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California budget bulldog Arnold Schwarzenegger
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Budget Bulldog Schwartznegger
Here's an update from California Assembly's Democratic Majority Leader Alberto Torrico's office, re the state budget impasse, and AB 656, the Oil and Gas Severance Tax to Fund Higher Education, which would raise $1 billion of the $24 billion shortfall:
". . . the Assembly will be back in session this Sunday at 6 p.m. The Senate will be in session Sunday beginning at 5 p.m. No agreement yet. Dems have put up votes to avoid a cash crisis and having to issue IOUs. Actually, Dems and Reeps in the Assembly voted for cuts and deferrals that would have eliminated the need for IOUs.
Once that passed without opposition, the Gov. met with Senate Republicans and then they blocked the package of bills in the Senate. Now the Governor is threatening to force a third monthly furlough day for state workers unless he gets what he wants. He says he has to do this to prevent a cash crisis, but if he had supported yesterday’s bills passed by the Assembly in bipartisan fashion, there wouldn’t be the immediate cash crisis."
According to Assembly Majority Leader Torrico, the Governor's belligerence about saving $1 billion, by cutting state service rather than raising revenue could cost California $5 billion in federal funding:
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