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

Mar 9, 2026 - The Nasdaq composite, which includes the California headquartered companies Nvidia, Google, Facebook, Apple, AMD, and Broadcom, has doubled since 2023. The meteoric rise in the value of these companies has led to sizable gains for their investors and their employees via stock options, which has led income tax collections to grow at double-digit rates.  
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - The Nasdaq composite, which includes the California headquartered companies Nvidia, Google, Facebook, Apple, AMD, and Broadcom, has doubled since 2023. The meteoric rise in the value of these companies has led to sizable gains for their investors and their employees via stock options, which has led income tax collections to grow at double-digit rates.  
https://lao.ca.gov/LAOEconTax/article/Detail/852

The 2023-24 California Spending Plan: Other Provisions

Nov 8, 2023 - Governor ’s Office of Planning and Research The budget provides the Governor ’s Office of Planning and Research (OPR) with roughly $1.1  billion in total funds (including $711  million from the Greenhouse Gas Reduction Fund, $378  million from the General Fund, and $29  million from federal funds) and 149.4 positions in 2023-24.
https://lao.ca.gov/Publications/Report/4814

November 2022 Cap-and-Trade Auction Update [EconTax Blog]

Dec 14, 2022 - The preliminary auction results exceed the amount the 2022-23 budget package assumed would be raised in this auction —$711 million, which reflected the administration ’s projections —by about $250 million.
https://lao.ca.gov/LAOEconTax/Article/Detail/763

The 2022-23 Budget: Office of Planning and Research Budget Proposals

Feb 9, 2022 - To increase awareness about the program and to recruit volunteers, California Volunteers would develop a robust marketing campaign using social media platforms, such as Facebook and Ring Neighborhoods, and provide communications support to neighborhood leaders. $1.5   Million for Digital Infrastructure.
https://lao.ca.gov/Publications/Report/4523

The 2019-20 Budget: Analysis of the Medi-Cal Budget

Feb 13, 2019 - This represents a significant reduction from the $ 711  m illion in Proposition  56 funding that offset General Fund expenditures in Medi ‑Cal in 2017 ‑18. Establish a Physician and Dentist Student Loan Repayment Program.
https://lao.ca.gov/Publications/Report/3935

Fiscal Outlook: Estimating Wages and Salaries [EconTax Blog]

Nov 14, 2018 - We expect workers in technology sector jobs —which includes firms conducting data processing, software development, and web search, like Google and Facebook —to see strong growth in both average wages and jobs.
https://lao.ca.gov/LAOEconTax/Article/Detail/321

The 2018-19 Budget: California Spending Plan (Final Version)

Oct 2, 2018 - This represents a decrease from the $ 711  m illion in Proposition   56 r evenue that offset General Fund spending in Medi ‑Cal in 2017 ‑18. The reduced Proposition  56 General Fund offset accounts for nearly $ 500  m illion of the year ‑over ‑year $2. 6  b illion increase in General Fund Medi ‑Cal spending between 2017 ‑18 and 2018 ‑19.
https://lao.ca.gov/Publications/Report/3870/6

The 2017-18 Budget: California Spending Plan

Oct 18, 2017 - The remaining $711  million supports anticipated spending increases from growth in the Medi ‑Cal program between 2016 ‑17 and 2017 ‑18. The budget package also provides up to $800  million in these revenues for increases in provider payments in 2018 ‑19, but these future amounts may be adjusted by the Department of Finance based on the state ’s fiscal condition.
https://lao.ca.gov/Publications/Report/3694/1

The 2017-18 Budget: California Spending Plan

Oct 18, 2017 - The 2017-18 Budget: California Spending Plan Revenue dedicated to fund growth in existing Medi-Cal program $711 Total $1,257 a Physician and dental services provider payments could be increased to up to about $720 million in 2018-19 (bringing total 2018-19 Proposition 56 funding for increased provider payments to $800 million).
https://lao.ca.gov/Publications/Report/3694/6