San Diego Real Estate Blog

The governor and legislative leaders on Monday reached an agreement to bridge the state’s $26.3 billion budget gap. According to C.A.R.’s legislative sources, the agreement does not include the 3 percent independent contractor withholding that was initially part of the budget package. C.A.R. has been a forceful advocate to eliminate the 3 percent independent contractor withholding proposal. The agreement includes about $15 billion in state budget cuts, as well as $2 billion in cuts to, and another $2 billion in borrowing from, local governments. However, the official budget language is not yet in print. A vote on the budget in both houses is planned for Thursday. C.A.R. will follow up with additional details as they become available.

Posted by Leo Gonzalez on July 22nd, 2009 4:22 PMPost a Comment (0)

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