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CA Financial Fix Likely To Come From Your Budget

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Nov 18, 2008 6:06 pm US/Pacific

CA Financial Fix Likely To Come From Your Budget

SACRAMENTO (CBS 5) ― The California Legislature is preparing for a rare weekend session to tackle the state's $11 Billion budget deficit.

Governor Schwarzenegger has proposed a sales tax hike that would bring the total to 10 percent of most items we buy. Others are talking about raising the state income tax by five percent. Another option is to impose steep cuts to cure the states ills.

Our video report looks at the state's possible financial fixes that are likely to take a toll on your own budget.

(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)

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© MMIX, CBS Broadcasting Inc. All Rights Reserved.