State Unlikely To Finalize Budget by Tuesday Deadline
The California Legislature will miss a deadline Tuesday to enact a 2010-2011 state budget, Assembly Speaker John PÃ©rez (D-Los Angeles) said Thursday. According to Controller John Chiang (D), if the budget is not finalized by August, the state likely will have to issue IOUs to pay its bills. The state faces a $20 billion budget deficit.
- "PÃ©rez Acknowledges That Budget Deadline Will Be Missed" (Walters, "Capitol Alert," Sacramento Bee, 6/10).