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SACRAMENTO, Calif. — California officials hope to reach a deal today on how to erase a $26.3 billion budget deficit that has forced the state to issue IOUs for the first time in nearly 20 years.

Legislative leaders said they made “huge progress” Friday night in talks in the governor’s office and plan to meet again today in hopes of finalizing an agreement. A deal would clear the way for votes later in the week in the state Legislature.

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