The budget accord that top lawmakers and Gov. Arnold Schwarzenegger have struck would rely on cuts to public schools and reduced state worker pay, optimistic revenue assumptions and more than $5 billion in help from Washington -”“ far more than previously estimated -”“ to eliminate California’s $19-billion deficit.
The details of the spending plan, released in a report of the Legislature’s joint budget conference committee Wednesday morning, come less than 24 hours before the Legislature is scheduled to vote on the package. The budget, for the fiscal year that began July 1, is 98 days overdue and already the latest in modern state history.
The agreement avoids the deepest cuts that Schwarzenegger had proposed, such as the elimination of California’s main welfare program and child care for 140,000 children of low-income families. But it would roll back a pension boost that state workers received at the height of the dot-com boom. The new, lower pension levels would only apply to future employees.