A ‘down payment’ on state deficit
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Highlights of the measures that lawmakers and Gov. Arnold Schwarzenegger agreed to Monday:
TAX BREAKS
* Up to $10,000 credit for first-time home buyers or those purchasing a newly built home
* 10-year sales tax exemption for businesses buying green-technology manufacturing equipment
BUDGET CUTS
* $1.1-billion reduction in mass transit funding through gas-tax changes
Source: California Legislature
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