Gov. Arnold Schwarzenegger and legislative leaders have reached the "framework of an agreement" to solve the $19 billion budget deficit, Schwarzenegger's spokesman said this afternoon.
The five lawmakers "will work through the details over the weekend, and hope to come to a final agreement when they reconvene Monday," Schwarzenegger spokesman Aaron McLear wrote in an e-mail to reporters.
Details of the deal were not immediately available. Spokespersons for Senate President Pro Tem Darrell Steinberg and Assembly Republican leader Martin Garrick confirmed McLear's statement.
The announcement came as leaders wrapped up a second day of budget talks in Los Angeles. This year's spending plan on Friday becomes the latest state budget on record.
UPDATE 5:29 P.M.:
Assembly Speaker John A. Perez released the following statement: "Today's meeting has resulted in significant progress, and I believe we have reached a framework for a potential agreement. We will continue to work throughout the weekend to iron out the details."
Seth Unger, spokesman for Assembly Republican leader Martin Garrick, wrote in an e-mail to reporters: "There is a budget framework in place. Members and staff will be working on language through the weekend so that the leaders can come back together Monday with a consensus and finalize."