Fiscal Outlook: Focus on Revenues [EconTax Blog]

Nov 14, 2018 - We expect taxable wages an d salaries to increase by 7.2 percent in 2019, but slowing to 4.4 percent in 2020 in part due to slower growth at the national level. While we project continued growth in capital gains revenues in 2018-19, we expect revenues from this source to decline somewhat in 2019-20 due to slow growth in the stock market.
https://lao.ca.gov/LAOEconTax/Article/Detail/318

The 2019-20 Budget: Overview of the Governor's Budget

Jan 14, 2019 - The proposal assumes the grant increase would go into effect October 1, 2019 and cost $ 348  m illion in 2019 ‑20. Full ‑year costs are expected to be $ 455  m illion in 2020 ‑21. The administration ’s proposal differs from the Legislature ’s plan both in terms of the grant amount and the timing.
https://lao.ca.gov/Publications/Report/3916

The 2019-20 Budget: California Spending Plan (Final Version)

Oct 17, 2019 - For CalSTRS, the budget provides $ 606  m illion for the state to pay a portion of districts ’ costs (reducing district contribution rates by about 1  p ercent of payroll in 2019 ‑20 and 2020 ‑21). Similarly, the budget provides $ 244  m illion for the state to cover a portion of districts ’ CalPERS costs (reducing district rates by about 1  p ercent of payroll in 2019 ‑20 and 2020 ‑21).
https://lao.ca.gov/Publications/Report/4083

The 2019-20 Budget: California's Fiscal Outlook

Nov 14, 2018 - To that end, for illustrative purposes, the right side of Figure  7 displays the state ’s operating surpluses if additional commitments were made in 2019 ‑20. In particular, the figure assumes that the Legislature made an additional $ 2  b illion in one ‑time and $ 3  b illion in ongoing commitments (but no additional commitments in 2020 ‑21 and beyond).
https://lao.ca.gov/Publications/Report/3896

The 2020-21 Budget: Overview of the California Spending Plan (Final Version)

Oct 5, 2020 - The budget projects IHSS total costs to increase from $13. 6  b illion in 2019 ‑ 20 t o $15. 2  b illion in 2020 ‑21 (11. 7  p ercent). General Fund costs are estimated to slightly increase between 2019 ‑20 ($4. 3  b illion) and 2020 ‑21 ($4. 5  b illion).
https://lao.ca.gov/Publications/Report/4263

The 2020-21 Budget: Overview of the Governor's Budget

Jan 13, 2020 - Under the Governor ’s budget, the minimum guarantee is up $ 302  m illion in 2018 ‑19 and $ 517  m illion in 2019 ‑ 20 c ompared to the estimates from the 2019 ‑ 20 b udget package. For 2020 ‑21, the administration estimates the minimum guarantee is $ 84  b illion, an increase of $2. 5  b illion ( 3  p ercent) over the revised 2019 ‑ 20 l evel.
https://lao.ca.gov/Publications/Report/4135

The 2020-21 Budget: California's Spring Fiscal Outlook

May 8, 2020 - Assume BSA Deposit Is Suspended in 2020 ‑21. As we describe in more detail in “Appendix  2, ” under our revenue and economic estimates, the Governor could declare a fiscal emergency in 2020 ‑21, but not 2019 ‑20.
https://lao.ca.gov/Publications/Report/4228

The 2020-21 Budget: Resources and Environmental Protection

Feb 25, 2020 - (The final report from that study is due in spring 2020.) Additionally, the 2019 ‑20 Budget Act provided $ 15  m illion from Proposition   68 t o the State Coastal Conservancy to undertake projects in the valley.
https://lao.ca.gov/Publications/Report/4178

Fiscal Outlook: Key Economic Assumptions [EconTax Blog]

Nov 14, 2018 - We show the key economic assumptions underlying our new Fiscal Outlook for California.
https://lao.ca.gov/LAOEconTax/Article/Detail/317

How Have Past Stock Market Downturns Affected Income Tax Revenue? [EconTax Blog]

Mar 9, 2026 - Smaller, short-lived corrections occur frequently, among them the 1997 Asian financial crisis, the 2011 U.S. debt celing standoff, the 2015 Chinese growth slowdown, the early pandemic drop in 2020, and the 2025 tariff selloff.
https://lao.ca.gov/LAOEconTax/Article/Detail/852