Income Tax Withholding Tracker: September 21 - September 25 [EconTax Blog]

Sep 25, 2020 - Income Tax Withholding Tracker: September 21 - September 25 [EconTax Blog] Income Tax Withholding Tracker: September 21 - September 25 September 25, 2020 Brian Uhler Bottom Line:   California income tax withholding surged this week, as collections were 40 percent above the comparable week in 2019.
https://lao.ca.gov/LAOEconTax/Article/Detail/554

Weekly Unemployment Claims Update: September 13 - September 19 [EconTax Blog]

Sep 25, 2020 - Weekly Unemployment Claims Update: September 13 - September 19 [EconTax Blog] Weekly Unemployment Claims Update: September 13 - September 19 September 25, 2020 Chas Alamo As a result of the COVID-19 pandemic, California has experienced an unprecedented rise in unemployment.
https://lao.ca.gov/LAOEconTax/Article/Detail/553

Home Prices Update: August 2020 [EconTax Blog]

Sep 23, 2020 - The average interest rate on 30-year fixed rate mortgages fell from 3.62 percent in August 2019 to 2.94 percent in August 2020. This made monthly mortgage payments more affordable (all else equal) and prob ably contributed to the price increases.
https://lao.ca.gov/LAOEconTax/Article/Detail/551

Home Sales Update: August 2020 [EconTax Blog]

Sep 23, 2020 - The dip in the most recent week likely reflects the timing of Labor Day this year, as sales volume over the past two weeks combined ran well ahead of the same weeks in 2019.  
https://lao.ca.gov/LAOEconTax/Article/Detail/550

Major Potential State Fiscal Risk Averted Following Withdrawal of Proposed Federal Medicaid Financing Regulation

Sep 21, 2020 - Rather than materializing immediately, the fiscal impact of MFAR on Medi-Cal likely would have fully materialized over the course of several years since the regulation gave states time to come into compliance with the rule changes.
https://lao.ca.gov/Publications/Report/4269

Income Tax Withholding Tracker: September 14 - September 18 [EconTax Blog]

Sep 18, 2020 - The final graph shows the year over year changes in cumulative withholding for California in 2020, the United States in 2020 (from the federal income tax), and California in 2009 at the trough of the Great Recession.
https://lao.ca.gov/LAOEconTax/Article/Detail/548

Impact of COVID-19 on State Transportation Revenues

Sep 17, 2020 - Funding for STIP comes from a specified portion of the gasoline excise tax, with 75  percent allocated to counties on a formula basis for projects they select and 25  percent to Caltrans for interregional projects.
https://lao.ca.gov/Publications/Report/4268?utm_source=t.co&utm_medium=referral&utm_campaign=4268

U.S. Retail Sales Update: August 2020 [EconTax Blog]

Sep 16, 2020 - August 2020 sales by some types of retailers substantially exceeded last year ’s sales, while sales by other types of retailers fell far short of last year ’s sales. Many of these differences were similar to the ones we noted in June and July .
https://lao.ca.gov/LAOEconTax/Article/Detail/545

Income Tax Withholding Tracker: September 7 - September 11 [EconTax Blog]

Sep 11, 2020 - The final graph shows the year over year changes in cumulative withholding for California in 2020, the United States in 2020 (from the federal income tax), and California in 2009 at the trough of the Great Recession.
https://lao.ca.gov/LAOEconTax/Article/Detail/541

The 2020-21 Budget: Labor Agreements to Achieve Budgetary Savings

Sep 9, 2020 - The agreement suspends the $920 per year allowance that Unit 5 members receive as a uniform allowance as well as the $25 per month uniform maintenance allowance employees receive. In addition, the side letter establishes a joint labor/management committee to study, discuss, identify, and recommend an alternative uniform for highway patrol officers that does not require regular dry cleaning services.
https://lao.ca.gov/Publications/Report/4267