NEW YORK (CNNMoney) - California Governor Jerry Brown unveiled a revised budget Monday that calls for a $9.3 billion tax extension, coupled with a $2.6 billion cut in spending.
Despite steep opposition from Republican lawmakers and some of his own supporters, Brown is holding firm to his belief that the state's budget crisis should be addressed with a mix of tax hikes and spending cuts. The governor did not unveil the draconian spending cuts that some observers had thought he would. Instead, he continued to press for an extension of tax hikes currently set to expire. And he still wants voters to have a say on the extension of the levies.FULL STORY