Feds get a nice chunk for the General Fund next year:
16 million Californians get to throw in an extra 41 bucks (yep that’s over half a billion)
Is it a new tax? ,No (that’s still coming)
Obamacare Fees?, No (that’s still coming too)
This was California defaulting on some loans,so the Feds get an extra piece.
Feel free to talk to your payroll department…they will tell ya all about it. We aren’t the only state, quite a few have failed to meet obligations.
P.S. wonder what happens 2014?…tough to cut off a revenue stream when you already spent the money.