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California Economy

California controller to suspend tax refunds, welfare checks, student grants

John Chiang announces that his office will suspend $3.7 billion in payments owed to Californians starting Feb. 1, because with no budget in place the state lacks sufficient cash to pay its bills.
Ref. Source 6

Economy California

That should make all the dependent Californians real happy. Don't planners take into consideration down turns anymore?

California Economy History & Civil Business Politics

State Assembly joins Senate in passing budget this morning, sending it on to Gov. Arnold Schwarzenegger for signing.

The vote ends nearly nine weeks of drawn-out budget battling as Legislative leaders agree to a number of financial and electoral concessions to win the support of Republican Sen. Abel Maldonado -- the one vote needed to ensure passage of a budget. Ref. SignOnSanDiego.com.

Economy California

State Assembly joins Senate in passing budget this morning, sending it on to Gov. Arnold Schwarzenegger for signing.

The vote ends nearly nine weeks of drawn-out budget battling as Legislative leaders agree to a number of financial and electoral concessions to win the support of Republican Sen. Abel Maldonado -- the one vote needed to ensure passage of a budget. Ref. SignOnSanDiego.com.

Economy California

If California doesnt give back tax refunds, just watch everyone change their amount of dependents to make sure they owe taxes. I usually try to keep it where I owe just a little money to the state and federal government, but if they tried this trick...I definitely would make sure I wasnt due a refund.

Edited: Vincenzo on 13th Mar, 2009 - 9:02am

California Economy

State budget springs a leak

SACRAMENTO - Just three weeks after celebrating a hard-fought compromise that many hoped would end California's budget nightmare, state lawmakers received a fresh blast of chilling financial news yesterday. Ref. Source 6

California Economy

California faces $8 billion more in cuts

The state's financial free-fall continued yesterday as lawmakers and the governor learned they may have to cut about $8 billion more than was estimated just the day before. The governor abandoned a plan to borrow $5.5 billion to help cover a spiraling deficit as the independent legislative analyst warned the borrowing was not only unwise but legally questionable. Ref. Source 1

California Economy Politics Business Civil & History

California will run out of cash in 14 days:

The state wallet is empty. The bank closed. Credit has dried up, Gov. Arnold Schwarzenegger told lawmakers in a special Tuesday morning address at the Capitol. Ref. Source 2