By David McGrath Schwartz (contact)

Thu, Nov 20, 2008 (6:48 p.m.)

After a grueling day at the Interim Finance Committee, where legislators heard and approved some more painful cuts, they went over to meet with Gov. Jim Gibbons.

Legislative leadership, both Democrats and Republicans, met for almost two hours. And when they ended the meeting, legislators and the governor were tight-lipped on any possible solutions to the latest budget crisis.

The legislative leaders will meet again on Tuesday.

At issue is a $290 million gap between what the state is expected to spend and what it anticipates making between now and June 30, 2009. (They haven't begun discussions with each other on next biennium's budget.)

Senate Majority Leader Steven Horsford, Speaker Barbara Buckley had on grim poker faces.

Gibbons said he was pleased to announce that there was bipartisan cooperation. But, he said, they agreed not to talk about any possible solutions until meeting again next week, when legal issues had been examined and numbers crunched.

Buckley and Senate Minority Leader Bill Raggio, R-Reno, have said repeatedly the state cannot make another $300 million in cuts this year. Gibbons said, "We're trying desperately not to cut any more."

Treasurer Kate Marshall, just before the meeting, informed the legislative leadership that she believed the state could get a $150 million line of credit to help it get through the current fiscal crisis.

"This would give the legislature the flexibility and time it needs to work through the financial times," Marshall said.

The decision would require legislative approval either during a special session or early in the 2009 session, set to start Feb. 2. There was no concensus on the need for a special session.