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Clock Is Ticking For California Bond Issue

Sacramento, CA — Lawmakers are making a last-ditch attempt to reach a deal that would put the largest bond measure in California history on the June ballot.

The bond is a $50 billion package with money for highways, transit, schools, levees and other public works projects. Democratic Assembly Budget Committee chairman John Laird says he thinks negotiators are getting close and are working out the final details. He says a new proposal includes more money for reservoirs and fewer environmental reviews.

Legislators and Governor Schwarzenegger convened over the weekend to try to keep hopes for an agreement alive after Senate Republicans shot down a proposal early Saturday. Laird says the weekend gave negotiators time to resolve some final issues.