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: Bureau for Private Postsecondary Education

Mar 25, 2026 - Even with out repayment, that fund would have more than enough to cover its expenditures, with an estimated ending balance of $95  million (22 months of expenditures) in 2025-26. Proposal Would Not Address BPPE ’s Underlying Structural Deficit.
https://lao.ca.gov/Publications/Report/5169

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

Mar 3, 2026 - Similarly, the FMR for a one-bedroom unit has grown by 95  percent (compared to 42  percent growth for the maximum SSI/SSP grants for couples). As shown in Figure  6, FMR takes up a significant portion or exceeds recipient grants in all counties.
https://lao.ca.gov/Publications/Report/5148

The 2026-27 Budget: Judicial Branch

Feb 11, 2026 - This leaves $95  million (24  percent) in reserves subject to the cap. 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.
https://lao.ca.gov/Publications/Report/5113

The 2026-27 Budget: University of California

Feb 26, 2026 - (Of this amount, UC has earmarked $95  million for its systemwide program that provides student financial aid.) In addition, UC intends to use $20  million from its investment earnings for its core operating costs in 2026 ‑27.
https://lao.ca.gov/Publications/Report/5143