Senate Approves $8 Billion Cuts and Shifts
In an effort to put a dent in the state´s record deficit, the state Senate has approved measures aimed at saving more than $8 billion over the next two years.
Hard hit by the struggling economy, the state finds itself with a record budget deficit that could reach $34 billion within the next 16 months. Hardest hit by the Senate´s action are schools. The state´s college and university systems will lose a combined $270 million this year.
The bills are identical to measures already approved by the Assembly. Governor Davis is expected to sign the bills.