Legislative Democrats are expected to release an updated budget proposal today for tackling the $19.1 billion deficit.
Many elements from the earlier "frameworks" will remain, including rolling back $2 billion in corporate tax benefits and creating an oil severance tax.
But the new plan also has a new twist: an increase in the income tax and vehicle license fee lawmakers say would be offset by federal tax deductions for most residents. The sales tax would be lowered under the plan, which Bee colleague Susan Ferriss wrote about here.
That plan is expected to be introduced mid-afternoon, following meetings of the Assembly and Senate Democratic caucuses.
The plan doesn't signal a swift end to the 34-day budget impasse -- Republicans have said they are a no-go on some of the major components, including the oil tax.
Also under the dome: a handful of Assembly committees are meeting on topics ranging from the status of the Green Chemistry Initiative to probing practices for suspending home equity lines of credit.
FURLOUGHS: Members of SEIU Local 1000 are rallying outside the DMV Headquarters at 11:15 a.m. to protest Gov. Arnold Schwarzenegger's new furlough order.
GOV2010: GOP gubernatorial candidate Meg Whitman is in Folsom for a 10:30 a.m. campaign event at SynapSense, a green wireless technology company.
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