California lawmakers and Gov. Gavin Newsom reached agreement on broad outlines of a new state budget plan but will continue to negotiate the details of tax law changes.
Lawmakers will insert spending details into the main budget bill by June 11 so they can cast floor votes and send it to Newsom, a Democrat, by June 15. The Budget Conference Committee approved the deal June 9. Newsom must sign the main bill by July 1, the start of the new fiscal year. He has line-item veto authority.
“The budget adopted by the conference committee is balanced, creates historic reserves, and ...
Learn more about Bloomberg Tax or Log In to keep reading:
See Breaking News in Context
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools and resources.
