Broad-Based Cash Assistance in COVID-19 Recovery Actions

Apr 3, 2020 - Another related program is the federal Earned Income Tax Credit (EITC), or its state-funded equivalent CalEITC , which provides refundable tax credits to low-income workers. State and Federal Government Also Ensure Some Wage Replacement in Specific Situations.
https://lao.ca.gov/Publications/Report/4214

Weekly Unemployment Claims Update: May 24-30 [EconTax Blog]

Jun 5, 2020 - Should continued claims keep rising, however, it could signal that the state is in for a protracted slump. Initial Claims Similar to Recent Weeks. California had 230,461 initial claims between May 24 and May 30.
https://lao.ca.gov/LAOEconTax/Article/Detail/476

Federal Assistance for Businesses Affected by COVID-19

Apr 3, 2020 - On April 30, 2020, the federal Internal Revenue Service (IRS) issued a regulation stating that PPP recipients cannot claim a deduction for expenses funded from forgiv en PPP loans. In September, the state conformed to these federal rules for the first round of PPP loans.
https://lao.ca.gov/Publications/Report/4215

Tempered Expectations [Publication Details]

Dec 9, 2019 - In this new installment of Fiscal Perspectives, Legislative Analyst Gabriel Petek provides additional context for understanding the importance of limiting new, ongoing spending in the coming budget, with a short discussion of the state's fiscal structure, the state's economic backdrop, and other potential risks and uncertainties.
https://lao.ca.gov/Publications/Detail/4122

Financial Aid Award Coverage [EdBudget]

Jan 16, 2020 - Notes: Figure shows need-based state and institutional gift aid programs supported with core funds (state General Fund and student tuition revenue). See "Financial Aid Award Amounts" for the size of each type of award.
https://lao.ca.gov/Education/EdBudget/Details/354

The 2020-21 Budget: Improving the State's Unpaid Wage Claim Process

Feb 19, 2020 - Other options, including authorizing the Labor Commissioner to use new enforcement tools or establishing a fund to cover un collected wages in certain cases, would require careful consideration and changes to state law.
https://lao.ca.gov/Publications/Report/4165

State Payments Provided on Behalf of School and Community College Districts [EdBudget]

Aug 24, 2020 - State Payments Provided on Behalf of School and Community College Districts [EdBudget] Translate Our Website This Google ™ translation feature provided on the Legislative Analyst's Office (LAO) website is for informational purposes only.
https://lao.ca.gov/Education/EdBudget/Details/436

Weekly Unemployment Claims Update: March 15-21 [EconTax Blog]

Mar 26, 2020 - Other States Saw Even Larger Increases Than California. While California had a record-setting increase in claims last week, many other states experienced much larger increases in claims. Among the 15 largest states, claims were, on average, 11 times higher (128,000 compared to 12,000) during the week of March 15-21 compared the week prior.
https://lao.ca.gov/LAOEconTax/Article/Detail/445

Evaluating Tax Expenditures [EconTax Blog]

Aug 29, 2019 - The Legislature clearly states the intent of some tax expenditures in the enacting legislation. For example, the stated intent of the California Competes tax credit is to “attract and retain high-value employers in the state. ” In other cases, the intended goal may be less clear.
https://lao.ca.gov/LAOEconTax/Article/Detail/396

The 2019-20 Budget: California Spending Plan—Expands Earned Income Tax Credit (EITC) [Publication Details]

Oct 17, 2019 - This post describes the 2019-20 budget actions to expand the state earned income tax credit (EITC).
https://lao.ca.gov/Publications/Detail/4099