Wednesday, June 24, 2009
CA will have to begin issuing IOUs next week, controller says
If the budget crisis is not solved, county agencies, vendors and tax-refund recipients will receive warrants instead of checks, Controller John Chiang warns.
Reporting from Sacramento -- The state controller announced this morning that he will have to begin issuing IOUs next week if California lawmakers and Gov. Arnold Schwarzenegger don't settle on a solution to the $24-billion deficit.
As lawmakers in both houses began debating proposals for balancing the budget, Controller John Chiang said he would have to issue warrants starting July 2 because of the state's precarious cash position...
Los Angeles Times: State will have to begin issuing IOUs next week, controller says
Reporting from Sacramento -- The state controller announced this morning that he will have to begin issuing IOUs next week if California lawmakers and Gov. Arnold Schwarzenegger don't settle on a solution to the $24-billion deficit.
As lawmakers in both houses began debating proposals for balancing the budget, Controller John Chiang said he would have to issue warrants starting July 2 because of the state's precarious cash position...
Los Angeles Times: State will have to begin issuing IOUs next week, controller says
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