Labor Agreements: Bargaining Units 1, 3, 4, 6, 9, 11, 14, 15, 17, 20, AND 21

Jun 25, 2020 - Labor Agreements: Bargaining Units 1, 3, 4, 6, 9, 11, 14, 15, 17, 20, AND 21 June 25, 2020 Labor Agreements: Bargaining Units 1, 3, 4, 6, 9, 11, 14, 15, 17, 20, and 21 The compromise budget package will be considered by the California State Senate on June 25, 2020 and by the California State Assembly on June 26, 2020.
https://lao.ca.gov/Publications/Report/4257

Home Sales Update: May 2020 [EconTax Blog]

Jun 24, 2020 - California home sales were running at a relatively high level earlier in the year, but have dropped sharply as a result of the COVID-19 pandemic. The slump deepened in May, as the state recorded barely half as many sales as in May 2019.
https://lao.ca.gov/LAOEconTax/Article/Detail/486

Home Prices Update: May 2020 [EconTax Blog]

Jun 23, 2020 - In the longer term, chronically high housing costs have hurt the state ’s business climate and been a key reason California loses residents to other states on net in most years. May 2020 data indicate that the typical home in both California and the nation at large has appreciated 4.3 percent since May 2019.
https://lao.ca.gov/LAOEconTax/Article/Detail/485

Income Tax Withholding Tracker: June 15-June 19 [EconTax Blog]

Jun 19, 2020 - The second graph compares the year-over-year percent change in withholding (withholding this week relative to the same week in 2019) to the weekly changes  observed from March through June of  2009, when the state was in the depths of the Great Recession.
https://lao.ca.gov/LAOEconTax/Article/Detail/483

U.S. Retail Sales: May 2020 [EconTax Blog]

Jun 16, 2020 - At one end of the spectrum, the two hardest-hit types of retailers were clothing stores and restaurants, whose year-over-year sales were down 67 percent and 40 percent respectively. At the other end, the two types of retailers that experienced the strongest growth were nonstore retailers (for example, those that specialize in e-commerce) and grocery stores, whose
https://lao.ca.gov/LAOEconTax/Article/Detail/481

Income Tax Withholding Tracker: June 8-June 12 [EconTax Blog]

Jun 12, 2020 - The second graph compares the year-over-year percent change in withholding (withholding this week relative to the same week in 2019) to the weekly changes observed from March through June of 2009, when the state was in the depths of the Great Recession.
https://lao.ca.gov/LAOEconTax/Article/Detail/479

The 2020-21 May Revision: Analysis of 2020-21 May Revision IHSS Budget

Jun 9, 2020 - The difference between the May Revision and January IHSS General Fund costs estimates is primarily driven by a temporary increase to federal funding offsetting General Fund costs in both the current and budget year.
https://lao.ca.gov/Publications/Report/4253

Income Tax Withholding Tracker: June 1-June 5 [EconTax Blog]

Jun 5, 2020 - The second graph compares the year-over-year percent change in withholding (withholding this week relative to the same week in 2019) to the weekly changes observed from March to June of 2009, when the state was in the depths of the Great Recession.
https://lao.ca.gov/LAOEconTax/Article/Detail/477

The 2020-21 Budget: Addressing Revenue Uncertainty in the 2020-21 Cap-and-Trade Expenditure Plan

Jun 4, 2020 - The Governor ’s expenditure plan includes $25  million to expand various climate research and adaptation activities, if sufficient revenue is available. However, such an expansion might be difficult to implement in 2020 ‑21 given the uncertainty about how much funding will ultimately be available.
https://lao.ca.gov/Publications/Report/4250

The 2020-21 Budget: Effect of Lower Cap-and-Trade Revenues on the High-Speed Rail Project

Jun 4, 2020 - The high-speed rail project receives about 25  percent of the state ’s revenues from the quarterly cap-and-trade auctions. Accordingly, the lower the state ’s cap-and-trade revenues, the less funding is available for the project.
https://lao.ca.gov/Publications/Report/4252