Posted on 02/11/2009 3:41:29 PM PST by NormsRevenge
Reporting from Sacramento -- Gov. Arnold Schwarzenegger and legislative leaders have settled on the framework of a bipartisan spending plan that would scale back the state's investment in schools, higher education, public transportation and other programs in addition to imposing some temporary tax increases.
The plan, aimed at closing a $42-billion budget gap projected by the middle of next year, was cobbled together in private talks by legislative leaders and is being presented to rank-and-file lawmakers this afternoon, according to participants in the negotiations. Floor votes in the Assembly and state Senate are planned for Friday.
"There is no deal, but there is a common framework," said state Senate Leader Darrell Steinberg (D-Sacramento).
The administration officials and legislative leaders were careful to say the ink is not yet dry on a final deal. But Matt David, Schwarzenegger's communications director, characterized the remaining issues to be worked out as "minor."
Legislative leaders are scurrying to round up votes for the plan; whether they will get enough by Friday is unclear. Republican lawmakers, in particular, are under tremendous pressure from anti-tax activists to reject the plan.
A copy of the fiscal blueprint obtained by The Times shows that the deficit would be wiped out with $15 billion in cuts; $14.4 billion in new and increased taxes on sales, vehicles, gasoline and personal income; $12 billion in borrowing against future profits from the lottery; short-term loans; and various accounting maneuvers. Some of the cuts and borrowing could ultimately be offset by billions of dollars in federal aid that California would receive in the economic stimulus package that passed the U.S. Senate this week and is awaiting final approval in Congress.
Even so, the cuts to state services would be deep and long-lasting.
(Excerpt) Read more at latimes.com ...
Where have I heard that before?
As a member of the CA GOP, I can say with certainty that I will forever abandon the state GOP if even a SINGLE MEMBER votes for this garbage.
NO NEW TAXES!
The spending details look like typical budget deception. Borrowing and federal backfill make up most of the deficit except for the temporary tax increases. The sales and income tax increases look especially onerous.
I’m not hearing anything about a tough spending cap. If the Republicans cave in on increasing the money Sacramento steals from citizens without getting a real spending cap in return then I guess they are entirely indistinguishable from the free spending, hand in your wallet, Democrats.
According to one report, CA get 38 billion from the Feds on the passing of the stimi bill so really, we are only 4 bill short.
This year - right.
The new and increased taxes would remain in effect for at least two years. If voters approved constitutional spending restraints that the Legislature would put on the ballot in the coming months as part of the budget package, the taxes would remain in place for five years.
The net gain to the state would be a negative number, I'm guessing another billion or so to the bad.
The Marxist Dems disbelieve this with the religiosity of a snake-handling cult, even though the toxic principal of punitive taxation has been proven time and again.
.
imposing some temporary tax increases.
**note: there is no such thing as a temporary tax increase.
That's a joke, right?
Cuts approved by these clowns are never "deep" or "long-lasting" just as tax increases are never "temporary."
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.