CA Mess: Senate Rejects Assembly Call For A Timeout
I guess this is good news under the standard of cracks in the armor, but it amounted basically to nothing. The Assembly, on a bipartisan basis, passed a stopgap measure designed specifically to keep the IOUs from going out next week. The measure would cut some education programs and defer other payments, for a total of about $5 billion. The Governor, who's beyond reason or responsibility at this point, threatened to veto becuase it did not constitute a "full solution." And then the Senate, led by "Zed" Hollingsworth, just said no and the legislature adjounred. FWIW, here were some of the plans:
Among the costs lawmakers would defer are $2.2 billion owed to schools, $700 million for the University of California system, $290 million owed the California State University system and $163 million for community colleges. Nearly $290 million in payments to transportation programs would also be delayed.
The Assembly package also would take $350 million from local redevelopment agencies to help balance the budget. An earlier attempt to take those funds was blocked in court, but lawmakers have rewritten the proposal in an attempt to avert legal problems.
The lawmakers also would also borrow $360 million in lottery funds, which legislative staffers say would be legal even though voters in May rejected a proposal to borrow substantially more from the lottery.
It's remarkable how almost everything on the May ballot has been dredged up again, despite the mandate against doing so.
Once again, I see no endgame.