Guam - Governor Eddie Calvo did what he said he was going to do from the onset - this afternoon he vetoed Substitute Bill 145 or the proposed Fiscal Year 2012 budget, which was passed by eight democrats in the Guam Legislature last Friday. Since its passage the Governor has called the bill "disastrous", citing a myriad of issues he had with the legislation, most especially with Senator Ben Pangelinan's $180 million bond proposal, which would only pay out $120 million in past due tax refunds, as opposed to the Governor's $343 million bond proposal to pay all past due refunds.
The governor has said he would not compromise with the Legislature because it wasn't his money to compromise with in the first place. Senators on the other hand have said the Pangelinan proposal was the more prudent thing to do considering all that's happening in Washington, DC with impending cuts in federal funding.
The governor has since called lawmakers to convene in a special session for Friday morning at 8 o'clock to entertain a new budget bill he sent down for them to deliberate on. "I do believe that if we call them back into Session, I will be presenting them a bill that is prudent, fiscally responsible and make good in the promises that we have made to pay all those long past due refunds paid by December," said Governor Calvo during an interview with KUAM this afternoon.