Davis Set To Reveal Money Plan
Governor Gray Davis will reveal his tightly protected plan today to fill a 22 billion-dollar gap in the state budget. His plan is expected, at the very least, to contain deep cuts, heavy borrowing and postponed spending. The Democratic governor is up for re-election in November and has repeatedly said he won´t increase taxes to balance the budget. But the gap has nearly doubled from an estimated 12-point-five billion dollars in January.
Republican lawmakers say they will oppose tax increases, but they are not offering specifics on how they would fill the state´s largest-ever budget shortfall. The governor´s announcement is expected at 1 p.m.