Budget Crisis, Lawmaker | featured news

Cash-Strapped States Turn to Sin Taxes

Cash-Strapped States Turn to Sin Taxes

In a recession, state lawmakers are taxing personal vices. It’s good for you, they say, but it’s really better for their budgets.

 

California misses budget deadline, readies "IOUs"

California misses budget deadline, readies

California's lawmakers failed to agree on a balanced budget by the start of its new fiscal year on Wednesday morning, clearing the way to suspend payments owed to the state's vendors and local agencies, who instead will get "IOU" notes promising payment.

 

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