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Schwarzenegger Releases Local Budget Agreement

The governor´s new local budget agreement was released today.

The governor calls it a victory for local government, and for people who rely on local services.

The agreement will make the current car tax cut permanent and would provide 1.3 billion in General Fund savings this fiscal year, and another 1.3 billion next fiscal year.

The governor´s office says, in order to protect local governments, the reduction in vehicle license fees for cities and counties will be replaced by an increase in the amount of property tax they receive.

And a constitutional amendment for this November´s ballot will propose to protect local government funding in future years.