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It's finally payday for your state IOU!
Independent contractor Dave Melrose traded his California IOUs for a check for payment at the State Treasurers Office in Sacramento.
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Julie Small/KPCC
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It's finally payday for your state IOU!
It's finally payday for your state IOU!
On a quiet Friday in Sacramento, the state Treasurer's office was unusually noisy. Californians who'd been paid with IOUs from the state streamed in today to redeem those registered warrants for real money. The treasurer's staff was on hand to make that a quick process. KPCC's state capital reporter Julie Small spent the morning in line with some people eager to cash in their IOUs.
The state government issued nearly 450,000 IOUs ( or registered warrants) since the start of July. They were worth more than $2.6 billion.
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