Several lawmakers say they're confident that a deal can be reached later today and voted on by both houses of the legislature by Thursday. Democrats seem a little more encouraged than Republicans. From AP:

Assembly Minority Leader Sam Blakeslee said early Monday that he was looking forward to wrapping up negotiations this week. He was more reserved hours later as he entered Schwarzenegger's office. "I'm not completely convinced that we have a solution at hand," he said. "This is going to be a heavy lift, and I think the likelihood of getting to 'yes' is still in doubt. Much work to be done."