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Schwarzenegger Signs the State Budget, Life Gets Back to Normal, but with Higher Taxes
Other than $1.3 billion in vetoes, Governor Arnold Schwarzenegger signed a package of 34 bills this afternoon that are meant to clear up the $42 billion deficit. It relies on spending reductions, revenue increases (aka taxing you more), use of the economic stimulus and government efficiency. If passed, $5.8 billion will come from a handful of ballot measures that Californians will vote on in a special May 19th election.
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Right now, LAist has lost $1.7M in annual funding due to Congress clawing back money already approved. The support we receive from readers like you will determine how fully our newsroom can continue informing, serving, and strengthening Southern California.
If this story helped you today, please become a monthly member today to help sustain this mission. It just takes 1 minute to donate below.
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