SAN FRANCISCO - The California Pooled Money Investment Board yesterday cut off $3.8 billion of interim financing for capital projects at schools, hospitals, fire stations, and other public facilities to conserve cash as lawmakers struggled to solve the state's growing fiscal crisis.

Democratic lawmakers said just before press time that they would present an $18 billion budget plan that would partially close the state's growing deficit. They said it would not need the two-thirds majority typically required under California law, allowing them to pass their plan without Republican votes.

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