State to Issue IOUs Instead of Checks - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

State to Issue IOUs Instead of Checks

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State service providers, state employees and taxpayers will soon be receiving IOUs instead of checks from the State of California.

With a burgeoning deficit and a stalemate over the budget, the state does not have the money to pay out some payroll and state tax refund checks.

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