The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - The stock market (S &P 500) has risen 50  percent in the last two years. Most of these gains come from the meteoric rise in the value of a handful of tech companies that investors believe will be major beneficiaries of recent advances in AI.
https://lao.ca.gov/Publications/Report/5091

The 2026-27 Budget: Overview of the Governor's Budget

Jan 12, 2026 - That said, recent budgets have set the SFEU bet ween $3.5  billion and $4.5  billion, so the Governor ’s budget proposal to set the balance to $4.5  billion is generally in line with recent policy.
https://lao.ca.gov/Publications/Report/5101

The 2023-24 California Spending Plan: Other Provisions

Nov 8, 2023 - These funds are to be used primarily for last-mile project grants, although some funding may be used to build, lease, or purchase middle-mile infrastructure required by last-mile projects to provide broadband internet service.
https://lao.ca.gov/Publications/Report/4814

The 2022-23 Budget: California’s Fiscal Outlook

Nov 17, 2021 - Enhanced Federal Match for Home ‑ and Community ‑Based Services (HCBS). The ARP also included a temporary enhanced federal match rate for HCBS funded through the Medicaid program, which reduces the state ’s share of base program costs for these services by $3 billion.
https://lao.ca.gov/Publications/Report/4472

The 2016-17 Budget: The Governor’s Proposition 2 Debt Proposal

Feb 24, 2016 - Compared to the Governor’s approach, our alternative that does not require an employee match may allow the state to address this problem at a lower cost. This approach may also preserve the state’s ability to change these benefits in the future.
https://lao.ca.gov/Publications/Report/3363

An Extraordinary Moment in California's Fiscal History

Apr 11, 2019 - Because the MCO tax package leverages federal Medicaid matching funds, the Governor ’s nonproposal in this area has the effect of leaving money on the table. Therefore, we think the Legislature should strongly consider extending the MCO tax package even in the absence of a proposal to do so from the Governor.
https://lao.ca.gov/Publications/Report/4003

The 2016-17 Budget: California Spending Plan

Oct 5, 2016 - Market Match Program. The budget includes $5  million from the General Fund for the Market Match Program. Chapter  442 of 2015 (AB  1321, Ting) created this program within the Office of Farm to Fork to award grants to certified farmers ’ markets that increase the amount of nutrition benefits available to low –income consumers when purchasing fresh fruits, nuts, and vegetables grown in California.
https://lao.ca.gov/Publications/Report/3487/11

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

Oct 2, 2018 - Participating counties and tribes are required to provide a dollar ‑for ‑dollar match to receive state funds. Budget ‑related legislation also requires an independent evaluation of the impacts of the program.
https://lao.ca.gov/Publications/Report/3870/7

California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - Whereas California’s labor market has stagnated over the last two years, the S&P 500 stock index has appreciated roughly 50 percent over the same period. And most of this increase has come from skyrocketing share prices among a handful of firms associated with innovations in Artificial Intelligence (AI).
https://lao.ca.gov/Publications/Report/5104

The 2023-24 Budget: Initial Comments on the Governor's May Revision

May 15, 2023 - (In this figure and throughout the report, some of the estimates cited here for the Governor ’s budget might not match estimates provided in our Overview of the Governor ’s Budget , published in January.
https://lao.ca.gov/Publications/Report/4769