Perata Says State Faces $3 Billion Hole

0

Senate President Pro Tem Don Perata estimated Tuesday the state will face a $3 billion to $5 billion deficit this fiscal year without corrective actions, a significant gap that increases the likelihood lawmakers will have to consider new spending cuts or tax increases in a special midyear budget session.

The Oakland Democrat further predicted that California faces a $15 billion to $18 billion budget shortfall through June 2010. But he said it would be pointless to bring back lawmakers into a special session if Republicans will not consider tax increases.


& #8226;

Read the full

Sacramento Bee

story.

No posts to display