Published: May 03, 2011 6:25 PM EDT
Updated: May 03, 2011 3:25 PM EDT

TALLAHASSEE, Fla. (AP) - Budget leaders have resolved spending issues dividing the Florida House and Senate.

The breakthrough came Tuesday.

The deal sets the stage for an on-time finish to the annual legislative session on Friday.

Tuesday was the deadline due to a 72-hour waiting period before a vote can be taken.

The agreement includes $308 million in tax cuts. Gov. Rick Scott asked for $1.7 billion including a $458 million cut in corporate income tax.

The legislative deal calls for only a $30 million corporate tax cut, but Scott praised the deal. He said it's a first step toward what he hopes will be repeal of the tax.

Most of the relief would be in property tax.

The final budget is expected to top $67 billion with nearly $4 billion in spending cuts.

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