The 2026-27 Budget: Proposition 98 Guarantee and K-12 Spending Plan

Feb 4, 2026 - First, the budget faces short ‑term forecasting risk. Specifically, the state could adopt a spending level that appears affordable based on current revenue estimates, but becomes unaffordable if revenue falls short of expectations.
https://lao.ca.gov/Publications/Report/5110

The 2026-27 Budget: K-12 Proposals

Feb 19, 2026 - As we discuss in the “Overview ” section of this report, we recommend the Legislature be cautious about new spending commitments in order to provide a cushion in case the state faces a decline in revenues.
https://lao.ca.gov/Publications/Report/5131