“The State of California owes a debt of gratitude to the thousands of individuals and businesses that were forced to bear the brunt of the State’s chronic fiscal mismanagement,” Chiang said. “Along with short-term loans that are routinely obtained in the fall, this spending plan should provide sufficient cash to meet all of California’s payment obligations through the fiscal year.”

For anyone not familiar with the situation, Chiang started the state IOU program last month during the budget shortfall.  The companies sent these IOUs (also known as registered warrants) have been vigorously fighting for the program to be brought to a conclusion due to the cash flow issues the IOU program was causing their own businesses.