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

Mar 9, 2026 - By most measures, the global financial crisis was more severe than the dot-com crash. The state 's unemployment rate, for example, peaked at 7 percent following the dot-com crash but reached nearly double that during the financial crisis and remained elevated for much longer.
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - By most measures, the global financial crisis was more severe than the dot-com crash. The state 's unemployment rate, for example, peaked at 7 percent following the dot-com crash but reached nearly double that during the financial crisis and remained elevated for much longer.
https://lao.ca.gov/LAOEconTax/article/Detail/852

The 2026-27 Budget: Proposed Elimination of State Environmental Positions

Feb 17, 2026 - To achieve budgetary savings, the 2025-26 budget eliminated 4,994 vacant state government positions, reducing annual costs by about $360  million on an ongoing basis. These savings included about $130  million General Fund, with the remainder from special funds.
https://lao.ca.gov/Publications/Report/5124

CSU Federal Grants and Contracts for Research and Other Purposes [EdBudget]

Feb 12, 2026 - This table reflects funding for Minority-Serving Institutions (including Hispanic-Serving Institutions) either as "R&D" or "Other," as applicable. a"Other" includes federal TRIO programs, workforce training programs such as the Workforce Innovation and Opportunity Act (WIOA), AmeriCorps, and other targeted federal programs. bCSU, as a system, receives federal grants and contracts in addition to
https://lao.ca.gov/Education/EdBudget/Details/1052

California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - After the dot-com bust and the Great Recession, it took four and five years, respectively, for revenues to recover. Incorporating revenue risk into the budget now, therefore, reflects prudence, not pessimism.
https://lao.ca.gov/Publications/Report/5104

Oversight of certain public benefit artificial intelligence (AI) companies. [Ballot]

Jan 20, 2026 - The measure would have the following major fiscal effects: Increased state costs that would likely be in the tens of millions of dollars annually to establish and operate a new regulatory commission overseeing certain public benefit AI com panies.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-033

The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - For California, the dot ‑com era —when stocks rose and then fell precipitously in response to widespread adoption of the internet —offers the most salient example. The internet has proven to be a transformative technology and, yet, the stock market ’s initial reaction was clearly overly exuberant.
https://lao.ca.gov/Publications/Report/5091

Rethinking California's Reserve Policy

Apr 10, 2025 - In March of 2004, on the heels of the dot ‑com bust, voters passed Proposition  58, which created the Budget Stabilization Account (BSA). In the 2006 ‑07 budget, the Legislature deposited $472  million into the BSA and in 2007 ‑08 deposited $1.5  billion.
https://lao.ca.gov/Publications/Report/5028

The 2025-26 Budget: California Department of Corrections and Rehabilitation

Feb 25, 2025 - The administration estimates that Proposition 36 will have no impact on the average daily parole population in 2024‑25 but will cause it to be about 360 higher (or 1 percent) than it otherwise would be in 2025‑26.
https://lao.ca.gov/Publications/Report/4986

Fixing Unemployment Insurance

Dec 2, 2024 - During the phase ‑in period, the state also entered the dot ‑com recession. These two cost pressures absorbed the remaining flexibility in the state ’s UI tax system. As  shown in Figure  4 , the state began this period in Schedule C but quickly moved to Schedule F+, the highest tax schedule, where it has remained since.
https://lao.ca.gov/Publications/Report/4943