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: Governor’s Office of Land Use and Climate Innovation Proposals

Mar 19, 2026 - Because the Legislature already signed off on LCI ’s plans to establish its own IT office, providing additional funding to complete that transition and ensure the systems are safe and secure would be consistent with previous legislative decisions.
https://lao.ca.gov/Publications/Report/5167

The 2026-27 Budget: California Competes Extension

Mar 18, 2026 - …But Also Indicates a Possible Trade-Off. However, there is a potential trade-off when considering awarding a credit to an applicant with a higher potential benefit to the state but a lower probability of achieving their milestones, compared to an applicant with a lower benefit but who is more likely to achieve their milestones.
https://lao.ca.gov/Publications/Report/5162

The 2026-27 Budget: Medi-Cal Analysis

Mar 2, 2026 - That said, given the magnitude of the fiscal challenges facing the state, we also recommend the Legislature begin weighing the merits and trade ‑offs of pursuing a larger health plan tax. In considering these trade ‑offs, the Legislature likely will want to weigh the additional revenue generated against the higher cost to commercial health plans and their consumers.
https://lao.ca.gov/Publications/Report/5146

The 2026-27 Budget: Community College Facilities

Mar 17, 2026 - In deciding how much funding to allocate, the Legislature faces a basic trade-off. On the one hand, allocating more funding now would allow more projects to begin in 2026-27, avoiding the construction cost escalation associated with waiting until a future year.
https://lao.ca.gov/Publications/Report/5159

The 2026-27 Budget: Office of Emergency Services Next Generation 911 System

Feb 27, 2026 - It is unclear if OES ’s choices are consistent with the Legislature ’s preferences if faced with the same set of options and trade ‑ offs —particularly since OES has not provided information on the trade ‑offs and costs of the alternatives it considered, nor sought formal legislative input (such as proposing the change through trailer bill language) as it moves forward with its plans.
https://lao.ca.gov/Publications/Report/5145

The 2026-27 Budget: Permitting Support at the State Water Resources Control Board

Mar 2, 2026 - We recommend the Legislature consider some or all of the statutory amendments identified by SWRCB to align state procedures and requirements more closely with the federal approach, while evaluating trade-offs related to public participation and environmental review.
https://lao.ca.gov/Publications/Report/5144

The 2026-27 Budget: Framework for Approaching the Natural Resources, Environmental Protection, and Agriculture Budget

Feb 10, 2026 - Even Proposals With Strong Justifications Come With Trade ‑Offs. The Legislature may find it needs to approve some level of new expenditures —even from the General Fund —such as to address pressing health and safety concerns.
https://lao.ca.gov/Publications/Report/5116

The 2026-27 Budget: County Administration and H.R. 1 Implementation

Mar 5, 2026 - Addressing the structural budget problem will require difficult trade ‑offs. Backfilling lost federal benefits under H.R.  1 would require billions of dollars in additional budget solutions. …While Counties Face Multiple Cost Pressures.
https://lao.ca.gov/Publications/Report/5149