Humphrey has the scoop.
A compromise plan to balance the state budget was presented today by Senate Democratic Leader Jim Kyle, who said it was the result of bipartisan negotiations involving both the House and Senate.
Sen. Jim Kyle
The proposal accepts that none of the major revenue-generating measures proposed by Gov. Phil Bredesen will be enacted. Itspends about $142 million more from the state’s reserve funds than the governor wanted and reduces Bredesen’s proposed 3 percent pay bonus for state employees and teachers to 2 percent.
The plan was initially presented to the Senate Budget Subcommittee by Deputy Governor John Morgan at Kyle’s request. Morgan said that, while the plan is not the governor’s proposal, he believes Bredesen could accept it.
The plan would leave about $359.7 million left in reserves instead of $502.4 million in the budget as proposed by Bredesen.
It’s apparently sitting there right now, so we will see where this will go.
[...] BurchettYesterday, we pointed out an article that led us to believe there had been a compromise on the State [...]