Calif. Legislature approves budget bill

February 19, 2009 7:13:06 AM PST
The California Assembly has followed the state Senate in approving a long-awaited budget, sending the package to Gov. Arnold Schwarzenegger after an epic battle that involved several all-night sessions and political concessions. The budget flew through the Assembly less than an hour after it won approval by a single vote in the Senate after late-night horse trading to win a final Republican lawmaker.

The budget includes spending cuts, tax increases and borrowing, intended to close a projected $42 billion budget deficit and to stop a fast-arriving fiscal disaster for the state.

The budget, approved by the Democratic-controlled Legislature, now goes to the governor, who is expected to sign the measure.

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