In order to address California's estimated $11.2 billion deficit Gov. Arnold Schwarzenegger today called for a special legislative session where he proposed not only a tax increase but cuts in education, health care and welfare payments.
The governor's proposal includes $4.5 billion in cuts and a $4.7 billion raise in taxes.
According to the San Francisco Chronicle this is where students will be hit directly:
- $2.5 billion in education funding for K-12 schools and community colleges, the state's largest financial obligation that represents about half of its general fund spending.
- $132 million in funding for the University of California and California State University systems.
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