State Leaders Announce Budget Agreement

State leaders have agreed on a $7.2 billion budget that uses federal stimulus dollars to avoid drastic cuts.

The budget projects a 7 percent cut in state appropriations, or $494 million less than in 2009, the current fiscal year.

House Appropriations and Budget Committee Chairman Ken Miller, R-Edmond, said the budget agreement means there will be no widespread consumer fee increases, no rollback in prior tax cuts, no tax increases and no tapping into the state's "rainy day" fund.

The agreement means that tax cuts won't happen.

The budget agreement likely means the Legislature will adjourn by May 22, a week early.

The agreement apparently means that common education, health care, public safety and transportation elements of the budget won't be cut. Higher education, in fact, is slated for a 3 percent increase, about $32 million.

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