You Pay Your Taxes on Time, but Your Refund Could be Late
That's how bad the budget is. State Controller John Chiang today announced that he will have to delay $3-plus billion payments, including state income tax refunds, health, welfare, education and other programs. "With no signs of an economic recovery in sight, it is critical that the Governor and the Legislature enact a sound budget solution that provides much-needed cash by February 1," Chiang's website stated. "If not, the State will be $346 million in the red at the end of February, and $5.2 billion in the red in April." Payments will be doled out 30 days late, but if February 1st comes around and no budget is set, they could be delayed another 30 days.