California has a Tentative Budget Deal?

So no votes have been cast, but it looks like a final budget deal is in the works. Details seem to be coming out in real time so stay tuned. It looks like there is going to be a lot of pain to go around.

It should be noted that just because there is a deal with the "Big 5", that does not mean that there are the votes to pass the budget.

Here is an summary of the budget "highlights" from the California Weekly:

Overall, according to Capitol sources, the plan includes about $15.8 billion in spending cuts, $14.3 billion in tax increases and about $10.9 billion in new borrowing. Details of the revenue package began to surface earlier this week, with increases expected in the state sales tax, gasoline tax and vehicle license fee.

More than half of the cuts are to K-12 schools and community colleges. The plan calls for about $8.4 billion in savings by reducing the constitutional guarantee to schools. Details of where the specific cuts would be made remained unclear, but Capitol sources indicated more than $5.6 billion would be cut in the current budget year.

From the Republican camp it looks like getting the votes is going to be difficult. From the SacBee.

Assemblyman Chuck DeVore, R-Irvine, said legislative leaders will have a hard time finding votes.

"The tax increases are far too much, the budget cuts aren't enough and the spending cap is illusory because it's based on prior revenue, not based on a calculation of the economic capacity of the state to pay it," DeVore said.

However as an old friend said: Always count your votes.