The 2025-26 Budget: Scholarshare Investment Board

Apr 30, 2025 - Thus, the new SSMI will not need to conduct work related to onboarding new marketing firms at this time. SIB is also still in the exploratory phase of understanding which marketing and outreach efforts yield the highest results.
https://lao.ca.gov/Publications/Report/5035

The 2026-27 Budget: How to Use One-Time Revenue Improvements [Publication Details]

Feb 20, 2026 - Recent stock market performance continues to boost income tax collections. In our Fiscal Outlook, we strongly advised the Legislature to treat near-term strength in tax collections as temporary because we expect these gains to reverse. Further, the state faces significant structural deficits in the future.
https://lao.ca.gov/Publications/Detail/5133

The 2026-27 Budget: How to Use One-Time Revenue Improvements

Feb 20, 2026 - The 2026-27 Budget: How to Use One-Time Revenue Improvements The 2026-27 Budget How to Use One-Time Revenue Improvements Recent stock market performance continues to boost income tax collections. In our Fiscal Outlook , we strongly advised the Legislature to treat near-term strength in tax collections as temporary because we expect these gains to reverse.
https://lao.ca.gov/Publications/Report/5133

The 2019-20 Budget: The Governor's Individual Health Insurance Market Affordability Proposals

Feb 7, 2019 - Under a state individual mandate, most or all of the individuals who otherwise would have not enrolled in Medi ‑Cal would still enroll, likely eliminating any reduced Medi ‑Cal costs otherwise associated with the end of the federal individual mandate penalty.
https://lao.ca.gov/Publications/Report/3927

The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - Instead, because a market downturn is only a risk but not a certainty, our forecast includes income tax collections that are somewhat weaker than suggested by cash trends, but still tens of billions of dollars above where they would be if stocks actually drop significantly.
https://lao.ca.gov/Publications/Report/5091

COVID-19 and California’s Evolving Fiscal Outlook

Mar 18, 2020 - Volatile Financial Markets Indicate Lower Capital Gains-Related Tax Revenue Taxes on capital gains are a significant source of state revenue. Even in “normal ” times, capital gains income is difficult to forecast because it correlates with stock market performance.
https://lao.ca.gov/Publications/Report/4203

California’s Low-Wage Workers and Minimum Wage

Mar 11, 2024 - Many workers are still in low-wage jobs as they approach middle age. When a cohort of workers reaches their late thirties, their rate of low-wage work has declined by less than half since they were 25.
https://lao.ca.gov/Publications/Report/4878/2

The 2026-27 Budget: Higher Education Overview

Feb 5, 2026 - New Higher Education Spending Is at Risk Given Stock Market Signals. The administration ’s higher revenue estimates are mainly driven by strong stock market performance. Certain factors signal the stock market might be approaching a peak.
https://lao.ca.gov/Publications/Report/5112

The 2026-27 Budget: Proposition 98 Guarantee and K-12 Spending Plan

Feb 4, 2026 - Investors are borrowing large sums to buy stocks, and households are more invested in the stock market than at any time in at least 70 years. Historically, these signs have preceded stock market downturns.
https://lao.ca.gov/Publications/Report/5110

Assessment of the Strong Workforce Program

Dec 10, 2025 - Despite this new process, CCC administrators indicate it still commonly takes 18  months or more to develop a new CTE program. Based on conversations with CCC administrators and external stakeholders, there is still a common perception among industry that this process moves slowly relative to changes in employer demand.
https://lao.ca.gov/Publications/Report/5098