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

Mar 9, 2026 - Smaller, short-lived corrections occur frequently, among them the 1997 Asian financial crisis, the 2011 U.S. debt celing standoff, the 2015 Chinese growth slowdown, the early pandemic drop in 2020, and the 2025 tariff selloff.
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - Smaller, short-lived corrections occur frequently, among them the 1997 Asian financial crisis, the 2011 U.S. debt celing standoff, the 2015 Chinese growth slowdown, the early pandemic drop in 2020, and the 2025 tariff selloff.
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  3, the Governor ’s budget projects that caseload will decrease by 0.9  percent in both 2025-26 and 2026-27. In past years, the Department of Social Services (DSS) has noted that a potential driver of this steady caseload decline may be fewer individuals meeting income and asset eligibility thresholds.
https://lao.ca.gov/Publications/Report/5148

The 2026-27 Budget: In-Home Supportive Services

Mar 18, 2026 - Specifically, under the 2012 IHSS MOE, the state share of IHSS nonfederal costs increased from  65  percent in 2011 ‑12 ($1.7  billion) to roughly  76  percent in 2016 ‑17 ($3.5  billion). 2017 IHSS MOE.  
https://lao.ca.gov/Publications/Report/5166

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

Mar 18, 2026 - Introduction California operates the nation ’s largest public school system, comprising 937 school districts, 1,257 charter schools, and 58 county offices of education. This year, these local agencies will educate nearly 5.8  million students, employ around 700,000 teachers and staff, and spend nearly $150  billion.
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