As Dick noted, the House and Senate have come to an agreement on the next round of spending cuts to make, in the ongoing effort to close the 2009-11 budget shortfall.  Senate Ways and Means has an intial comparison of the agreement to the bills that passed the House and Senate, and to the governor’s proposal, here.

The deal would reduce spending by $242.2 million (NGFS).  That’s $12.4 million less than the Senate-passed bill would cut, but $20.4 million more than the House-passed bill would cut.  It’s about even with the governor’s proposal (but note that the W&M document does not include the $235 million June to July public schools payment shift that the governor proposed, and it appears that the document includes only policy changes, not maintenance level changes).

We’ll have more on this as more details are available.