Cannabis Tax Revenue Update (2024 Q2) [EconTax Blog]

Sep 4, 2024 - Proposition 64 created two excise taxes on cannabis: a retail excise tax and a cultivation tax. Chapter 56, Statutes of 2022 (AB 195, Committee on Budget) eliminated the cultivation tax on July 1, 2022.
https://lao.ca.gov/LAOEconTax/article/Detail/812

MOU Fiscal Analysis: Bargaining Unit 5 (Highway Patrol)

Aug 23, 2024 - In contrast, Unit 5 receives salary increases based on labor market trends in counties with high costs of living despite roughly 70 percent of Unit 5 members working in counties that are not included in the survey.
https://lao.ca.gov/Publications/Report/4920

U.S. Retail Sales Update: July 2024 [EconTax Blog]

Aug 16, 2024 - U.S. retail sales have grown 1 percent over the last 3 months and 2.7 percent over the last 12 months. Retail sales growth has outpaced inflation over the last 3 months, but not over the last 12 months.
https://lao.ca.gov/LAOEconTax/article/Detail/811

U.S. Retail Sales Update: July 2024 [EconTax Blog]

Aug 16, 2024 - U.S. retail sales have grown 1 percent over the last 3 months and 2.7 percent over the last 12 months. Retail sales growth has outpaced inflation over the last 3 months, but not over the last 12 months.
https://lao.ca.gov/LAOEconTax/Article/Detail/811

MOU Fiscal Analysis: Bargaining Unit 10 (Professional Scientific)

Aug 14, 2024 - Effective July 1, 2024, employees represented by Unit 10 whose designated reporting office is located in the Counties of Alameda, Contra Costa, Marin, San Mateo, Santa Clara, or the City and County of San Francisco would receive a monthly $250 geographic pay differential.
https://lao.ca.gov/Publications/Report/4918

IRS Data Show Pandemic Uptick in Outmigration Continues [EconTax Blog]

Jul 31, 2024 - Since then, more middle- and higher-income households have moved to other states, meaning the effect on state revenue has been greater because these tax filers tend to make larger income tax payments.
https://lao.ca.gov/LAOEconTax/Article/Detail/809

IRS Data Show Pandemic Uptick in Outmigration Continues [EconTax Blog]

Jul 31, 2024 - Since then, more middle- and higher-income households have moved to other states, meaning the effect on state revenue has been greater because these tax filers tend to make larger income tax payments.
https://lao.ca.gov/LAOEconTax/article/Detail/809

Changes in University of California General Fund Spending [EdBudget]

Jul 25, 2024 - It is to backfill these slots with the same number of additional resident undergraduate students. b The budget eliminates the General Fund backfill previously provided in response to declines in Proposition 56 tobacco tax revenues.
https://lao.ca.gov/Education/EdBudget/Details/877

U.S. Retail Sales Update: June 2024 [EconTax Blog]

Jul 16, 2024 - U.S. retail sales have grown 0.1 percent over the last 3 months and 2.3 percent over the last 12 months. Over both periods, sales have grown more slowly than inflation.
https://lao.ca.gov/LAOEconTax/article/Detail/808

U.S. Retail Sales Update: June 2024 [EconTax Blog]

Jul 16, 2024 - U.S. retail sales have grown 0.1 percent over the last 3 months and 2.3 percent over the last 12 months. Over both periods, sales have grown more slowly than inflation.
https://lao.ca.gov/LAOEconTax/Article/Detail/808