State Could Break Budget Record
California State Capitol
Sacramento, CA — California is about to break a record.
Thursday will mark the longest period that the state has gone without having a new budget in place. The Associated Press reports that the previous record was set in 2008. Republicans and Democrats continue to be at odds over proposed cuts and tax increases. California has been deferring payments to schools and counties during recent months, and state officials may have to start issuing IOU’s next month if a spending plan is not in place. The deficit is over $19 billion.