Gov. Arnold Schwarzenegger
Supporters of pension reform measures on next month’s ballot in San Francisco and San Jose are encouraged by the latest developments out of Sacramento.
Governor Schwarzenegger said pension reform will save the state $100 billion over the next few decades in a news conference Friday morning.
State lawmakers have sent Gov. Arnold Schwarzenegger the main bill in a legislative package aimed at ending California’s record budget impasse and closing a $19 billion deficit.
The state is saddled with $8 billion of past due bills that will come due as soon as the governor signs a budget, and the state controller said Thursday there is not enough money to pay all of its debts at once.
The deal designed to end California’s record-long budget stalemate includes more deep spending cuts for the schools and social services and a delay in a corporate tax break.
California will require kids to be 5 years old when they start kindergarten and create a new grade level for pre-K children after Gov. Arnold Schwarzenegger signed legislation aimed at improving student achievement.
The California Supreme Court will rule next week about whether the governor has authority to furlough state workers.