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

Mar 9, 2026 - The Nasdaq composite, which includes the California headquartered companies Nvidia, Google, Facebook, Apple, AMD, and Broadcom, has doubled since 2023. The meteoric rise in the value of these companies has led to sizable gains for their investors and their employees via stock options, which has led income tax collections to grow at double-digit rates.  
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - The Nasdaq composite, which includes the California headquartered companies Nvidia, Google, Facebook, Apple, AMD, and Broadcom, has doubled since 2023. The meteoric rise in the value of these companies has led to sizable gains for their investors and their employees via stock options, which has led income tax collections to grow at double-digit rates.  
https://lao.ca.gov/LAOEconTax/article/Detail/852

The 2026-27 Budget: Supplemental Security Income/State Supplementary Payment (SSI/SSP) Program

Mar 3, 2026 - Specifically, the federal government pays for the SSI portion of the grant while the state pays the SSP portion of the grant. Federal Government Required to Provide Annual Cost-of-Living Adjustment (COLA) to SSI Grants … The federal government is required to provide an annual COLA each January to the SSI portion of the grant.
https://lao.ca.gov/Publications/Report/5148

The 2026-27 Budget: Child Care and State Preschool

Mar 19, 2026 - For example, the 2025‑26 budget provided $30 million to support the transition to paying providers prospectively. (Currently, the state pays providers after they have submitted timesheets demonstrating they have provided care.)
https://lao.ca.gov/Publications/Report/5168

The 2026-27 Budget: CDTFA’s Cannabis and Tobacco Programs

Feb 23, 2026 - Actual spending on the Tobacco Licensing Program declined from $9.1  million in 2021 ‑22 to $6.9  million in 2024 ‑25, while actual spending on the Cannabis Tax Program grew from $8.4  million in 2021 ‑22 to $16.2  million in 2024 ‑25.
https://lao.ca.gov/Publications/Report/5132

The 2026-27 Budget: California Student Aid Commission

Feb 17, 2026 - We recommend the state return to paying for MCS the way it pays for other state programs —in the year in which the costs are generated. Even  funding MCS in the traditional way, the state could still set the award coverage percentage for each award year.
https://lao.ca.gov/Publications/Report/5127

The 2026-27 Budget: Department of Developmental Services

Mar 13, 2026 - Additionally, loss of Medi ‑Cal coverage could require RCs to pay for health care services for consumers at full cost to the state if no other source of care is available. Continuing legislative oversight will help ensure that exemptions for DDS consumers are implemented as intended.
https://lao.ca.gov/Publications/Report/5157

The 2026-27 Budget: California State University

Feb 24, 2026 - In 2020‑21 and 2021‑22, the state applied certain supplemental payments towards CalPERS costs, which lowered rates to 29 percent. Since then, rates have generally stabilized around 32 percent. Spending Increases for Financial Aid Are Primarily Due to Tuition Increases.
https://lao.ca.gov/Publications/Report/5142

The 2026-27 Budget: Judicial Branch

Feb 11, 2026 - Currently, the fund remains insolvent and is estimated to require a General Fund backfill in the tens of millions of dollars annually through 2036 ‑37 to maintain existing facility ‑related activities and to pay the debt service for completed construction  projects.
https://lao.ca.gov/Publications/Report/5113

The 2026-27 Budget: Child Welfare

Mar 3, 2026 - Family First Prevention Services State Block Grant $222.4 million one ‑time in 2021 ‑22, available through June 30, 2028. Complex Care Needs: $18.1 million ongoing beginning in 2021 ‑22. County Capacity Building $43.2 million one ‑time in 2021 ‑22, available through June 30, 2026.
https://lao.ca.gov/publications/report/5147