As Jerry Brown’s office announced this morning, a budget will be proposed today that will rely on $12.5 billion in spending cuts over the next 18 months as well as higher taxes for the next five years in order to solve the budget deficit. The proposed budget will require cuts from every sector to the state and will include an 8 to 10 percent cut in the worker pay. The governor will hold a press conference this morning at 11 am.
Major spending reductions for the University of California being $500 million and $500 million for the Cal State University.
Read more: http://gov.ca.gov/news.php?id=16872