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

Mar 9, 2026 - Revenues regained their nominal levels in 55 months after the dot-com bubble, 53 months following the global financial crisis, and 40 months after the 2022 rate hike drawdown. Multi-year revenue declines amplify the strain on the state budget during major market downturns.  
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - Revenues regained their nominal levels in 55 months after the dot-com bubble, 53 months following the global financial crisis, and 40 months after the 2022 rate hike drawdown. Multi-year revenue declines amplify the strain on the state budget during major market downturns.  
https://lao.ca.gov/LAOEconTax/article/Detail/852

California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - The current discrepancy over the size of the state ’s budget deficit —$18  billion under the Legislative Analyst ’s Office estimate versus $3  billion in the Governor ’s budget —fits squarely within that pattern.
https://lao.ca.gov/Publications/Report/5104

Oversight of certain public benefit artificial intelligence (AI) companies. [Ballot]

Jan 20, 2026 - The measure would have the following major fiscal effects: Increased state costs that would likely be in the tens of millions of dollars annually to establish and operate a new regulatory commission overseeing certain public benefit AI com panies.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-033

The 2026-27 Budget: California State University

Feb 24, 2026 - It also would provide CSU with its remaining 3  percent ongoing base increase ($151  million) associated with the 2025 ‑26 compact payment in  2028 ‑29. CSU Anticipates Receiving Additional Tuition Revenue in 2026 ‑27.
https://lao.ca.gov/Publications/Report/5142

The 2026-27 Budget: Judicial Branch

Feb 11, 2026 - This is less than the $106  million the trial courts could have retained under the current 3  percent cap. Background Judicial Branch Has Extensive Facility Needs. The judicial branch currently manages around 430 facilities across all 58 counties.
https://lao.ca.gov/Publications/Report/5113

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

Mar 3, 2026 - As shown in Figure  6, FMR takes up a significant portion or exceeds recipient grants in all counties. For an efficiency unit, FMRs are between 63  percent and 258  percent of the maximum SSI/SSP grant for individuals and between 42  percent and 157  percent of the maximum SSI/SSP grant for couples.
https://lao.ca.gov/Publications/Report/5148

The 2026-27 Budget: CalWORKs

Feb 18, 2026 - Overestimates led to a large amount of unspent TANF —$767  million —estimated to be available to reduce state spending in CalWORKs in 2022-23. Similarly, $664  million in unspent TANF funds was estimated to be available in 2024-25.
https://lao.ca.gov/Publications/Report/5122

The 2026-27 Budget: Re-Envisioning State Education Governance

Mar 18, 2026 - Their research typically involved (1)  interviewing state and local officials, (2)  reviewing the state ’s experience with its governance model, (3)  examining theories of governance, (4)  studying governance in other states, (5)  analyzing the political and fiscal incentives of the main governance entities, and (6)  gathering public  feedback.
https://lao.ca.gov/Publications/Report/5165

The 2026-27 Budget: California Department of Corrections and Rehabilitation

Feb 23, 2026 - For example, the California Department of Health Care Access and Information in 2022 estimated that there would be a shortage of psychiatrists and behavioral health providers in all 58 California counties by 2025, with 27 prisons located in counties experiencing high or severe shortages.
https://lao.ca.gov/Publications/Report/5137