California's Fiscal Outlook: LAO Projections 2008-09 Through 2013-14 [Publication Details]

Nov 20, 2008 - Combined with rising state expenses, we project that the state will need $27.8 billion in budget solutions over the 2008-09 and 2009-10 fiscal years. The state’s revenue collapse is so dramatic and the underlying economic factors are so weak that we forecast huge budget shortfalls through 2013-14 absent corrective action.
https://lao.ca.gov/Publications/Detail/1895

Tax Expenditure Reviews [Publication Details]

Nov 16, 2007 - One of these is the mortgage interest deduction, valued at about $5 billion yearly. This program is found to be an inefficient means of promoting home ownership, and options are offered for improving it, including capping the deduction amount or replacing it with a targeted tax credit.
https://lao.ca.gov/Publications/Detail/1684

Perspectives on the Economy and Demographics 2007-08 [Publication Details]

Feb 21, 2007 - For 2007, like most other economists at this time, we forecast that growth will continue but be modest for the nation and California. For the year as whole, 2007 growth will be somewhat less than it was in 2006, with the first half of the year the weakest. Throughout the year, however, growth should accelerate, as the housing sector stabilizes, especially in the second half of 2007.
https://lao.ca.gov/Publications/Detail/1558

State Fiscal Picture 2007-08 [Publication Details]

Feb 21, 2007 - Adoption of the plan would also leave the state with large operating shortfalls in future years, unless additional corrective actions are taken. Thus, the Legislature will face major challenges in crafting a budget for the coming year.
https://lao.ca.gov/Publications/Detail/1559

2007-08 Budget: Perspectives and Issues [Publication Details]

Feb 21, 2007 - We estimate that the Governor’s budget plan would result in 2007-08 expenditures exceeding revenues by $2.6 billion. This would leave the state with a $726 million year-end deficit, compared to the Governor’s January 10th estimate of a $2.1 billion positive reserve. In addition, the state would face operating deficits of $3.4 billion in 2008-09, $2.5 billion in 2009-10, and $1.
https://lao.ca.gov/Publications/Detail/1560

The Governor’s Tax Proposal [Publication Details]

Feb 21, 2007 - The budget contains two tax-change proposals. The first is to permanently repeal the existing teacher retention tax credit, which was adopted in 2000 but was temporarily suspended in four of the past six years.
https://lao.ca.gov/Publications/Detail/1612

Perspectives on State Revenues 2007-08 [Publication Details]

Feb 21, 2007 - Following two years of major increases, it appears that revenue growth is slowing sharply in 2006-07, reflecting the impacts of a more moderate economic expansion and a dip in income from capital gains. The budget assumes that revenue growth will revive somewhat in 2007-08, led by an improving economy beginning later this year.
https://lao.ca.gov/Publications/Detail/1557

Narrowing the Tax Gap [Publication Details]

Feb 21, 2007 - We recommend that the Legislature redirect some of the proposed budget-year spending on tax gap enforcement activities in order to increase their payoff in terms of General Fund revenues." Reports by Policy Area
https://lao.ca.gov/Publications/Detail/1595

Allocating Local Sales Taxes: Issues and Options [Publication Details]

Jan 24, 2007 - Recent agreements between cities and private businesses involving diversions of millions of dollars of local sales taxes have highlighted concerns raised over the years about the present “situs-based” system for allocating local sales taxes.
https://lao.ca.gov/Publications/Detail/1540

California's Fiscal Outlook: LAO Projections, 2006-07 Through 2011-12 [Publication Details]

Nov 15, 2006 - Following a year in which major revenue increases were allocated to education and other state programs, California policymakers will face a much tougher budget in 2007-08. According to our updated forecast, the state’s budget faces operating shortfalls in excess of $5 billion in both 2007-08 and 2008-09, which will require significant actions to eliminate.
https://lao.ca.gov/Publications/Detail/1524