The deal is done.

The California Legislature voted early today to approve a massive budget package of tax increases, spending cuts and borrowing to close a $40 billion deficit after granting major concessions to one holdout Republican senator.

Lawmakers had been at a five-day impasse until Gov. Arnold Schwarzenegger and legislative leaders today agreed to give Sen. Abel Maldonado, R-Santa Maria, major changes he demanded in exchange for providing a crucial 27th vote for the state budget…

LINK – www.sacbee.com