.jpg) SACRAMENTO, Calif. (KCBS) -- State workers will receive their full paycheck Friday, despite the governor’s order to begin paying them the federal minimum wage. But the next pay day may be a different story.
There is enough money in the bank to meet the state’s monthly payroll of $1.5 billion this week, said H.D. Palmer, a spokesman for the state’s Finance Department. But after that, the state will need to borrow money at a fairly high interest rate for next month’s paychecks, he said.
Meanwhile, Assembly Speaker Karen Bass tells KCBS there was no progress in budget talks on Wednesday as lawmakers prepare for an ugly end to the legislative session.
And Governor Schwarzenegger could be a no-show when the GOP opens its convention Monday. He is vowing to remain in California if lawmakers fail to reach agreement on a state budget, now two months overdue.
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KCBS' Tim Ryan reports
