California Housing Affordability Tracker (April 2024) [EconTax Blog]

Jan 24, 2024 - Monthly payments for a newly purchased mid-tier home —including mortgage, taxes, and homeowners ’ insurance —have increased dramatically over the last couple of years. Payments for a mid-tier home were over $5,500 a month in March 2024 —an 80  percent increase since January 2020.
https://lao.ca.gov/LAOEconTax/article/Detail/793

California Housing Affordability Tracker (April 2024) [EconTax Blog]

Jan 24, 2024 - Monthly payments for a newly purchased mid-tier home —including mortgage, taxes, and homeowners ’ insurance —have increased dramatically over the last couple of years. Payments for a mid-tier home were over $5,500 a month in March 2024 —an 80  percent increase since January 2020.
https://lao.ca.gov/LAOEconTax/Article/Detail/793

Recent Revenues Coming in Below Governor's Budget Projections [EconTax Blog]

Jan 22, 2024 - Individuals with substantial capital gains and other non-wage income make quarterly estimated tax payments to meet state tax requirements. As shown in the figure  below, January estimated tax payments from these taxpayers are running well below targets needed to meet the Governor 's budget revenue levels for 2023-24.
https://lao.ca.gov/LAOEconTax/Article/Detail/795

Recent Revenues Coming in Below Governor's Budget Projections [EconTax Blog]

Jan 22, 2024 - Individuals with substantial capital gains and other non-wage income make quarterly estimated tax payments to meet state tax requirements. As shown in the figure  below, January estimated tax payments from these taxpayers are running well below targets needed to meet the Governor 's budget revenue levels for 2023-24.
https://lao.ca.gov/LAOEconTax/article/Detail/795

U.S. Retail Sales Update: December 2023 [EconTax Blog]

Jan 17, 2024 - U.S. retail sales have grown 0.7 percent over the last 3 months and 5.6 percent over the last 12 months. Both of these growth rates outpaced inflation.
https://lao.ca.gov/LAOEconTax/Article/Detail/794

U.S. Retail Sales Update: December 2023 [EconTax Blog]

Jan 17, 2024 - U.S. retail sales have grown 0.7 percent over the last 3 months and 5.6 percent over the last 12 months. Both of these growth rates outpaced inflation.
https://lao.ca.gov/LAOEconTax/article/Detail/794

The 2024-25 Budget: Overview of the Governor's Budget

Jan 13, 2024 - For example, the Governor proposes narrowing businesses ’ ability to reduce their tax bill by counting previous losses against their current income. This would generate about $300  million in additional revenue in 2024 ‑25.
https://lao.ca.gov/Publications/Report/4825

State Assistance to Businesses in Response to COVID-19

Jan 4, 2024 - Larger Metro Regions Received More PPP ‑Related Tax Relief and State Grants. We  also examined how PPP eligible for state tax relief and SBCRG were distributed across metro area. As Figure 6 shows, per business in the area, larger metro regions tended to receive more in both types of assistance, most notably, Los Angeles, San  Francisco, and San Jose.
https://lao.ca.gov/Publications/Report/4824