Potential Budget Deal In The Works
Vote Likely by Next Thursday
By Mike Luery
SACRAMENTO (CBS13) -- CBS 13 has learned of a potential budget deal in the works at the Capitol – a deal that's likely to include pension reform.
Senate President Pro Tem Darrel Steinberg told me today there will be a vote next Wednesday or Thursday – and he's confident he'll have the Republican support he needs for a budget deal.
"I think there is some significant momentum building behind it," Steinberg told CBS 13. "It will definitely include a measure to put the tax extension question on the ballot," he added.
The deal is likely to include the $12.5 billion in cuts already agreed upon at the Capitol – plus an $11 billion tax measure on the ballot this June – in return for something Republicans want.
I asked the Senate President today about the potential deal: "We're hearing that some Republicans may be willing to grant an extension of taxes on the ballot in June in return for key issues, among them pension reform?"
"Yes," Steinberg stated. "We are willing to engage in those discussions. We think there are some very good ideas when it comes to reforming pensions."
A recent report by the non-partisan Legislative Analyst's Office pointed out that California's pension plans have billions of dollars in unfunded liabilities.
Those findings were echoed by the Little Hoover Commission.
Pension reform is a key issue for Republicans, along with regulatory relief for businesses. Steinberg indicated both items are on the table for discussion.
"I think there are some very constructive discussions going on and I'm hopeful that in the end they will realize that for California's sake, we don't want to cut $25 billion," Steinberg told CBS 13. "There will be the necessary support to put the other half of the question to the people," he added.
Governor Brown says he wants a budget deal in place by Thursday, March 10, in order to get the tax measure on the ballot June 7th.
What's driving the deal?
Give a big assist to the California Chamber of Commerce and other business groups that have been supportive of the Governor's budget plan.
Key business leaders say they're willing to be supportive of lawmakers who vote for a comprehensive budget deal that's likely to
include program cuts and an extension of taxes. That pledge provides cover for Republicans who may be on the fence about voting for a budget deal.
