Firearms and Ammunition Revenue Update (2025 Q1) [EconTax Blog]

May 21, 2025 - As Chapter 231 went through the legislative policy process, the administration preliminarily estimated that the new firearm and ammunition excise tax would raise $159 million in 2024-25. In May 2024, the administration revised its estimate to $103 million.
https://lao.ca.gov/LAOEconTax/article/Detail/830

Firearms and Ammunition Revenue Update (2025 Q1) [EconTax Blog]

May 21, 2025 - As Chapter 231 went through the legislative policy process, the administration preliminarily estimated that the new firearm and ammunition excise tax would raise $159 million in 2024-25. In May 2024, the administration revised its estimate to $103 million.
https://lao.ca.gov/LAOEconTax/Article/Detail/830

The 2025-26 Budget: Cap-and-Trade Reauthorization and Greenhouse Gas Reduction Fund Proposals at May Revision

May 19, 2025 - As highlighted in an October 2024 report by the HSRA OIG, HSRA needs to secure funds to meet most of its identified funding gap for the Merced-to-Bakersfield portion of the project before June 2026 to avoid negative impacts on its schedule.
https://lao.ca.gov/Publications/Report/5049

The 2025-26 Budget: Initial Comments on the Governor's May Revision

May 17, 2025 - In June 2024, the Legislature not only addressed the 2024 ‑25 budget problem, but also took proactive steps to mitigate the anticipated 2025 ‑26 budget challenge. The June 2024 budget package included $28  billion in budget solutions for 2025 ‑26, although savings from some of these actions have since diminished.
https://lao.ca.gov/Publications/Report/5044

Ethnic studies course at the California State University. [Ballot]

May 15, 2025 - The ethnic studies course requirement became effective for students graduating in the 2024-25 academic year.  Proposal Creates New Undergraduate and Graduate Ethnic Studies Requirement at CSU. This measure requires CSU to add an upper-division ethnic studies course that is three units or higher to its graduation requirements for undergraduate students.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-003

Assessing The Recent Drop in Consumer Sentiment [EconTax Blog]

May 9, 2025 - The figure below shows the University of Michigan Consumer Sentiment Index since 1983, with the dashed lines showing months in which the index fell by at least 20 percent within six months, as it did between December 2024 and April 2025.
https://lao.ca.gov/LAOEconTax/Article/Detail/827

Assessing The Recent Drop in Consumer Sentiment [EconTax Blog]

May 9, 2025 - The figure below shows the University of Michigan Consumer Sentiment Index since 1983, with the dashed lines showing months in which the index fell by at least 20 percent within six months, as it did between December 2024 and April 2025.
https://lao.ca.gov/LAOEconTax/article/Detail/827

Changes in California State Library General Fund Spending [EdBudget]

May 7, 2025 - Changes in California State Library General Fund Spending [EdBudget]     a Includes reductions of $2.4 million pursuant to Control Section 4.05 and $1.2 million (10 positions) pursuant to Control Section 4.12 of the 2024-25 Budget Act.
https://lao.ca.gov/Education/EdBudget/Details/929

California State Library Budget [EdBudget]

May 7, 2025 - California State Library Budget [EdBudget]   a Includes $11.1 million in carryover funds. b Reflects reductions pursuant to Control Section 4.05 and Control Section 4.12 of the 2024-25 Budget Act. Specifically, Control Section 4.05 reduced the State Library's ongoing General Fund support by $2.4 million beginning in 2024-25.
https://lao.ca.gov/Education/EdBudget/Details/928

The 2025-26 Budget: State Mandate—Santa Ana Regional Water Quality Control Board

May 5, 2025 - This mandate is one of four newly identified mandates since enactment of the 2024-25 Budget Act . We will assess the other three mandates —also related to stormwater permits —after the administration proposes a course of action, potentially in the Governor ’s revised budget proposal in May.
https://lao.ca.gov/Publications/Report/5039