Nov 17, 2008 7:33 pm US/Pacific
Schwarzenegger Meets With Top Leaders Over Budget
SACRAMENTO (CBS 5 / KCBS) ―
California's six most powerful politicians met in Sacramento Monday afternoon to discuss the state's estimated $28 billion budget deficit.
Governor Arnold Schwarenegger met with outgoing Senate Pro-Tem Don Perata (D-Oakland), his successor Darrell Steinberg (D-Sacramento), Assembly Speaker Karen Bass (D-Los Angeles), Senate Leader Dave Cogdill (R-Modesto) and Assemblyman Mike Villines (R-Fresno) to discuss ideas to pitch during the special session of the legislature.
Schwarzenegger and the three Democrats all favor a 1.5 percent sales tax increase, but Republicans Cogdill and Villines think a higher sales tax could deal an unnecessary blow to consumers and businesses at a time when the economy seems to be slipping into a recession.
"They're talking about a 9.5 percent tax on oil -- they're calling it an oil severance tax which would be on every barrel of oil pumped in California. They're also talking about a nickel-per-drink tax on alcohol. So all those things we don't think are good ideas," said Cogdill, who feels the state should instead find ways to live within its means.
Either way, as Gov. Schwarzenegger points out this is a dramatic situation, requiring a dramatic solution.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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