Report: 'Framework of an agreement' reached to resolve California's budget stalemate

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Source: San Jose Mercury News

A spokesman for Gov. Arnold Schwarzenegger has told the Los Angeles Times that legislative leaders and the governor have reached "a framework of an agreement" to resolve California's record-long budget stalemate.

"The governor and the leaders have reached a framework of an agreement. We will continue to work through the details over the weekend and hope to come to a final agreement Monday when they reconvene," said Schwarzenegger spokesman Aaron McLear told the Times. He declined to provide any details.

Schwarzenegger and Democratic and Republican leaders of the Assembly and Senate -- the so-called "Big 5" -- met today in Santa Monica in an effort to close the state's $19 billion budget gap.

Read more: http://www.mercurynews.com/politics-government/ci_16156981