It’s quiet today at the State Capitol in Sacramento. State lawmakers have recessed until next month. In just three months into the legislative year, they’ve eliminated just a smidgen of the state’s multi-billion dollar deficit.
Schwarzenegger and legislators were only able to knock down the state deficit by $1.5 billion.
That leaves $18.5 billion to go.
Almost all the savings resulted from one bill that replaced the state’s existing tax on gasoline with a new one. The new tax siphons a bit more than $1 billion in revenues that used to go to local transportation.
Lawmakers also agreed on $200 million worth of savings in other programs.
Democrats had passed a bill that saved close to $2 billion and included many of the governor’s own proposals.
But Schwarzenegger vetoed that one because it wouldn’t take effect until next year.