Arnold Schwarzenegger swore after his first month as California governor that he’d rip up the state’s credit cards. Instead, the Republican former action- movie hero pushed through at least $52 billion of borrowing.
Los Angeles Mayor Antonio Villaraigosa proposed dismantling California’s Proposition 13, which helped begin a nationwide anti-tax movement, in favor of a “grand bargain” that would boost levies on business property.
California’s Legislature passed a Democrat-written budget that papers over a $10 billion deficit without extending higher taxes blocked by Republicans, as lawmakers beat a midnight deadline to pass a plan or lose pay.
California Governor Jerry Brown’s campaign to raise income and sales taxes to avoid deep cuts to schools collected $1.45 million from Occidental Petroleum Corp., American Indian gaming interests, hospitals and a building- trades union, reports show.
California Governor Jerry Brown has drafted a plan to pass a budget through the Legislature that sidesteps Republicans who blocked a previous effort, according to two people with knowledge of the matter.