Real estate tax-cut proposal pulled from ballot in last-minute deal

In a last-minute agreement, California's real estate tax-cut proposal has been modified and will now appear on the November ballot in a more limited form. This deal spares real-estate transfer taxes from cuts, which previously sparked significant debate among lawmakers. The revised measure aims to appease both sides, though it leaves out some of the more contentious elements. This move is crucial as it could impact funding for public services and infrastructure, with implications for the state's fiscal policy and housing market dynamics.