California's IOU Relief Bill
Our state is at a crossroads and we all need to get involved to put California back on the road to prosperity. This bill is a first step on that road and we won’t get there without your help.
In 2009, California sent out more than 448,000 IOUs exceeding $2,000,000,000 to taxpayers. AB 1506 simply forces the state to accept its own IOUs as payment.Please click on Support at the upper left side of this page and add your information to the list of supporters – be sure to include your full name, address, email, and phone (the press will try to discredit our efforts so we need to confirm that you are a real person).
"State Controller John Chiang warned Gov. Arnold Schwarzenegger and legislators today that the state could run out of cash to pay its bills before the end of the fiscal year and urged them to make $2.7 billion in "cash solutions" to avoid delays in payments."
- "Chiang Warns of Looming Cash Crunch," Sacramento Bee
Due to the out of control spending in Sacramento, California faces an estimated $20 billion deficit over the next 18 months. And while the state demands that you pay cash for your state taxes, DMV fees and tuition for state college, they’re going to stick taxpayers, charities and vendors with IOUs.
Right now AB1506 is in the Senate Governmental Organizations waiting to be heard. There is speculation that top leadership wants to kill it by stalling the process.
It would be a terrible injustice and lethal precedent - you and I cannot let that happen.
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