The 2026-27 Budget: Overview of the Governor's Budget [Publication Details]

Jan 12, 2026 - On January 9, 2026, Governor Newsom’s administration presented its proposed state budget to the California Legislature. In this report, we provide a high-level summary and our initial analysis of the Governor’s budget based on our preliminary review (as of January 10). Assembly Budget Handout (PDF) Senate Budget and Fiscal Review Handout (PDF)
https://lao.ca.gov/Publications/Detail/5101

The 2026-27 Budget: Overview of the Governor's Budget

Jan 12, 2026 - (We consider a proposal to be “discretionary” if it provides more funding for a program or a service above what is already committed under current law or policy.) After 2026‑27, these proposals would add about $200 million in ongoing spending.
https://lao.ca.gov/Publications/Report/5101

The 2026-27 Budget [Publication Details]

Jan 1, 2026 - As we release publications aimed at addressing the 2026-27 budget situation, we will add them to this index page.
https://lao.ca.gov/Publications/Detail/5107

The 2026-27 Budget: Cap-and-Invest Expenditure Plan

Feb 10, 2026 - In light of this, we think the Legislature should carefully consider what types of activities it would like to include in this category —and potentially provide this guidance to the administration in statute, as appropriate —recognizing that this year ’s decisions could serve as a precedent going forward.
https://lao.ca.gov/Publications/Report/5114

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: Re-Envisioning State Education Governance

Mar 18, 2026 - These standards define what students should know and be able to do in each grade level. The SBE also approves guidance for teaching these standards, known as curriculum frameworks. In addition, it approves instructional materials that align with these standards and frameworks.
https://lao.ca.gov/Publications/Report/5165

The 2026-27 Budget: California Student Aid Commission

Feb 17, 2026 - From 2022 ‑23 through 2024 ‑25, CSAC determined what percentage of each student ’s remaining costs to cover based on the annual MCS appropriation. In 2022 ‑23, award coverage was 26  percent, followed by 36  percent in 2023 ‑24, and 35  percent in 2024 ‑25.
https://lao.ca.gov/Publications/Report/5127

The 2026-27 Budget: Child Welfare

Mar 3, 2026 - Some questions for the Legislature to consider as it oversees these programs include: What are the major outputs, outcomes, and impacts of the funding to date? What do youth and families view as the most notable results or effects of the funding?
https://lao.ca.gov/publications/report/5147

The 2026-27 Budget: Cap-and-Invest Expenditure Plan [Publication Details]

Feb 10, 2026 - In this report, we review the Governor’s proposed plan for spending cap-and-invest revenues in 2026-27.
https://lao.ca.gov/Publications/Detail/5114