The California Senate has approved a package of bills aimed at saving the state about $4.6 billion over the next two years. The package includes a plan to borrow the money needed to make the state´s pension obligations due this year and next.
On nearly unanimous votes, the Senate moved six bills to the state Assembly in hopes of getting the legislation to Governor Davis before a Monday deadline. If completed on schedule before the weekend, the Legislature´s efforts this spring will have cut the $35 billion budget shortfall almost in half.
This post was last modified on 01/31/2009 4:46 pm