Calif. will begin redeeming IOUs as interest payments will cost taxpayers nearly $10 millionSeptember 3rd, 2009 Calif. to pay nearly $10 million on IOU interestSACRAMENTO, Calif. — California taxpayers will pay nearly $10 million in interest on the nearly half a million IOUs the state has issued this summer.
California to stop issuing IOUs to thousands of vendors on Sept. 4 as state budget stabilizesAugust 13th, 2009 Calif. to stop issuing IOUs s budget stabilizesSACRAMENTO, Calif. — The California controller says the state can stop issuing IOUs to vendors on Sept.
Schwarzenegger inks budget, ends California cash crisisJuly 29th, 2009 SACRAMENTO - California Governor Arnold Schwarzenegger signed off on the state's $84.6-billion budget Tuesday, ending a months-long cash crisis that forced the most populous US state to issue vendors IOU notes instead of payments. The former action-movie star used his veto powers to lop almost $500 million extra from the budget that had already been slashed by $15 billion to balance the books following a precipitous drop in state tax revenues.
Schwarzenegger likely to cut health, welfare further in signing revised Calif. budgetJuly 27th, 2009 More cuts expected as Schwarzenegger eyes budgetSACRAMENTO, Calif. — Human services advocates say more cuts to health and welfare programs are likely this week when Gov.
Legislative leaders, Gov. Schwarzenegger set to discuss final details on California's budgetJuly 19th, 2009 Calif. lawmakers, Schwarzenegger to discuss budgetSACRAMENTO, Calif. — California officials are set for talks they hope will iron out the final details to closing the state's $26.3 billion budget deficit.
Assembly committee passes bill requiring Calif. to accept IOUs as payment for taxes, feesJuly 7th, 2009 Bill would let IOUs pay for Calif. taxes, feesSACRAMENTO, Calif.
Small businesses brace for impact as broke California sends out IOUs instead of cashJuly 3rd, 2009 IOUs spell uncertainty for Calif. small businessesBERKELEY, Calif.
Calif. Senate fails to break budget deadlock as fiscal year ends; state prepares for IOUsJuly 1st, 2009 Calif. Senate fails to break budget deadlockSACRAMENTO — The California Senate has shut down for the night after failing to approve a stopgap plan to stave off the need for IOUs and ease the state's $24.3 billion budget deficit. Voting largely along party lines, the Senate rejected three bills designed to save $5 billion, including $3.3 billion in education funding cuts that had to be enacted by midnight Tuesday.
Calif. budget deadline looms as lawmakers make no progress on fixing $24.3B state deficitJune 30th, 2009 Calif. lawmakers face deadline to avoid IOUsSACRAMENTO, Calif. — A midnight deadline loomed Tuesday as California lawmakers and Gov.
Compromise over California budget deficit remains elusive with IOUs just days awayJune 29th, 2009 Calif. Senate OKs budget headed for certain vetoSACRAMENTO, Calif. — The California Senate has approved a Democratic budget that faces a certain veto from Republican Gov.
California controller says issuing $3B in IOUs a sign of fiscal mismanagementJune 27th, 2009 Controller: IOUs signal Calif fiscal mismanagementSACRAMENTO, Calif. — Thousands of Californians will be hurt and it will cost millions if the state is forced to hand out IOUs instead of payments next week, the state controller said Friday.
California controller says issuing $3 billion in IOUs a sign of fiscal mismanagementJune 27th, 2009 Controller: IOUs signal Calif fiscal mismanagementSACRAMENTO, Calif. — Thousands of Californians will be hurt and it will cost millions if the state is forced to hand out IOUs instead of payments next week, the state controller said Friday.
California lawmakers fail to pass stopgap measure to avoid IOUs, budget deal remains distantJune 26th, 2009 California Senate rejects cash-saving proposalSACRAMENTO, Calif. — Republicans in California's Senate have blocked a complicated cash-saving maneuver intended to help the state avoid issuing IOUs for services provided by thousands of independent contractors.
As fiscal crisis looms, Calif lawmakers fail on first legislative vote to close $24B deficitJune 25th, 2009 Calif lawmakers fail on first try to close deficitSACRAMENTO, Calif. — A Democratic plan to begin closing California's $24 billion budget deficit failed Wednesday, as legislative leaders planned to work through the weekend to avoid a cash crisis when the new fiscal year starts next week.
Calif. lawmakers debate budget fix as state controller warns of IOUs as early as next weekJune 24th, 2009 Calif. Legislature begins debate over budget fixSACRAMENTO, Calif. — Lawmakers have begun a sharp debate about a Democratic plan to close California's projected $24 billion deficit but a quick resolution seems unlikely.
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