California misses budget deadline for 17th time

Wednesday marks the end of another fiscal year and once again the state legislature will miss its constitutional deadline to approve a balanced budget.

This marks the 17th time in the last two decades that California's political leaders have missed the budget deadline.

Lawmakers are currently facing a $19 billion state deficit.

Democrats in the assembly and Senate are finalizing their proposals and expect to send a joint version of it to the governor next week.