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

Mar 9, 2026 - By most measures, the global financial crisis was more severe than the dot-com crash. The state 's unemployment rate, for example, peaked at 7 percent following the dot-com crash but reached nearly double that during the financial crisis and remained elevated for much longer.
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - By most measures, the global financial crisis was more severe than the dot-com crash. The state 's unemployment rate, for example, peaked at 7 percent following the dot-com crash but reached nearly double that during the financial crisis and remained elevated for much longer.
https://lao.ca.gov/LAOEconTax/article/Detail/852

The 2026-27 Budget: CDTFA’s Cannabis and Tobacco Programs

Feb 23, 2026 - We recommend that the Legislature adopt a modified version of this proposal and conside r whether new provisional language is needed to prevent such problems from recurring. Background Cannabis Tax Program.
https://lao.ca.gov/Publications/Report/5132

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

Feb 23, 2026 - For example, where the Special Master provided reports to the court on vacancies and made r ecommendations to address them, the Receiver can directly hire CDCR healthcare staff, set the mental health budget, and create internal policies and goals to improve care.
https://lao.ca.gov/Publications/Report/5137

UC Federal Grants and Contracts for Medical Care, R&D, and Other Purposes [EdBudget]

Feb 21, 2026 - UC Federal Grants and Contracts for Medical Care, R&D, and Other Purposes [EdBudget] a Amounts for 2024-25 are estimates based on 11 months of actuals. b Reflects expenditures, not annual grant award amounts. c This row excludes expenditures from NIH grants. 
https://lao.ca.gov/Education/EdBudget/Details/1047

The 2026-27 Budget: K-12 Proposals

Feb 19, 2026 - CDE, in collaboration with the S ‑TAC and R ‑TACs, would determine the deadlines and timing of the intervals for subsequent requests for funding. Provides $10   Million Annually for Statewide System of Technical Assistance.
https://lao.ca.gov/Publications/Report/5131

The 2026-27 Budget: California Student Aid Commission

Feb 17, 2026 - In turn, the impact on the r est of the budget would be exacerbated. Paying for awards in the year the costs are incurred would mitigate this situation, as the state would not have to rely on borrowing to cover annual program costs.
https://lao.ca.gov/Publications/Report/5127

CSU Federal Grants and Contracts for Research and Other Purposes [EdBudget]

Feb 12, 2026 - CSU Federal Grants and Contracts for Research and Other Purposes [EdBudget] $291.8 $602.3 Notes: About 20 percent of federal funding at CSU is grants and contracts for R&D, workforce training, student support, outreach, and various other purposes (with the remainder for student financial aid).
https://lao.ca.gov/Education/EdBudget/Details/1052

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

Feb 4, 2026 - The rest of this section analyzes how the Governo r ’s proposal affects these three challenges. The State ’s Short ‑Term Forecasting Risk Is Considerable. The state ’s reliance on tax revenue associated with the stock market poses an acute risk to its revenue forecast.
https://lao.ca.gov/Publications/Report/5110

California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - After the dot-com bust and the Great Recession, it took four and five years, respectively, for revenues to recover. Incorporating revenue risk into the budget now, therefore, reflects prudence, not pessimism.
https://lao.ca.gov/Publications/Report/5104