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Reform Package Goes To State Senate

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The California Assembly has overwhelmingly approved a budget reform package largely crafted by Governor Schwarzenegger and Democratic leaders.

The proposal would allow the state to borrow $15 billion this year to retire the existing deficit. It would alsor equire the Legislature and the governor to adopt and conform to a balanced budget and calls for the creation of a reserve fund for use during bad economic times.

Assemblyman Darrell Steinberg calls it “a good commonsense measure,” Lawmakers have worked past two deadlines in an effort to reach agreement — first last Friday, then Wednesday night.

If the proposal is approved by the Senate in the coming days, the measures will go to the March ballot.

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