Posted by Assemblyman Curt Hagman at 12:00 am on Jul 01, 2009 Comments Off on State Government Should Have to Accept IOU’s
The big question looming out there for vendors and people who
receive money from the state, and for the record way too many
people do, is who will accept IOU’s?
Banks haven’t made up there minds. They may be waiting to see
what the interest rate will be. Golden State Credit Union will take
the warrants; they after all cater to government employees.
I have co-authored AB 1506 that would allow the recipients of
IOUs from the state to use the warrants as payment for state
services.
Today, I attended a press conference organized by Assembly Bill
1506 Author Assemblyman Joel Anderson.
If IOU’s are going to be issued by the state, the state should
take them as payments. The DMV should take them, California State
universities should take them, the Board of Equalization should
take them etc…
If California wants banks to take them, shouldn’t California
government do the same?
Think of the all the interest California will save and besides
they are safe bet, right?… Read More