California's New Budget May Be On Time

Sacramento, CA -- If Governor Schwarzenegger signs off on California's 2006-2007 fiscal year budget today it'll mark the first time in six years that California has had its new budget in place on time.

Monday Sacramento lawmakers announced agreement on a $131 billion budget that would substantially increase funding for education and road improvements. In addition, the state would be able to pay down its debt and hold some revenue in reserve.

All this was made possible by an unanticipated $9 billion tax windfall for the state.

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