Sacramento, CA — Time is running out to put a record public works bond issue on the June ballot.
The state Senate early today rejected a $48.8 billion bond package that Democrats called a “great compromise” but Republicans labeled as a sham.
The bill went down to defeat on a party line, 24-to-12 vote, three votes shy of the two-thirds majority needed to send it to the state Assembly.
Governor Arnold Schwarzenegger says he will continue negotiating with lawmakers through the weekend to put together a bond package that could pass both houses.
The rejected plan included $39.7 billion in bonds for the ballot this year to pay for a wide array of public works projects, including improvements to highways and levees and school, community college and university facilities.