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

Mar 9, 2026 - This Time Might Be Different, but It Is Not Safe to Bet on It.   As our office warned last November, it now appears time to take seriously the notion that the stock market has become overheated. While there is a chance that this time is different and no such downturn is forthcoming, the risk appears strong enough that we have incorporated it into the state 's revenue outlook.  
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - This Time Might Be Different, but It Is Not Safe to Bet on It.   As our office warned last November, it now appears time to take seriously the notion that the stock market has become overheated. While there is a chance that this time is different and no such downturn is forthcoming, the risk appears strong enough that we have incorporated it into the state 's revenue outlook.  
https://lao.ca.gov/LAOEconTax/article/Detail/852

The 2026-27 Budget: County Administration and H.R. 1 Implementation

Mar 5, 2026 - What role do state policy decisions about eligibility processes play in affecting the complexity of operations and increasing or reducing the error rate in each program? Are there changes in state policy the state could consider that would reduce errors?
https://lao.ca.gov/Publications/Report/5149

The 2026-27 Budget: Overview of the Governor's Budget

Jan 12, 2026 - That said, recent budgets have set the SFEU bet ween $3.5  billion and $4.5  billion, so the Governor ’s budget proposal to set the balance to $4.5  billion is generally in line with recent policy.
https://lao.ca.gov/Publications/Report/5101

The 2026-27 Budget: Streamlining California’s Affordable Housing Funding System

Mar 6, 2026 - Also, HCD currently plays a key role in the review and implementation of AHSC, so it already has “in house ” knowledge of the program. Further, the intent is that this knowledge and program capacity will be transmitted to HDFC through the proposed position transfers from HCD  to HDFC.
https://lao.ca.gov/Publications/Report/5154

The 2026-27 Budget: CalWORKs

Feb 18, 2026 - This dynamic is at play in the 2026-27 Governor ’s Budget , which newly identifies $270  million in prior-year unspent TANF funds. Before accounting for other changes in spending levels, this unspent TANF funding results in a downward swing in General Fund dollars in CalWORKs in 2025-26.
https://lao.ca.gov/Publications/Report/5122

The 2026-27 Budget: Proposed Zero-Emission Vehicle Incentive

Feb 24, 2026 - While ZEV ‑specific programs can play a role in augmenting the state ’s broader programs —such as by making ZEVs more accessible to low ‑income households and helping to encourage the market to produce a greater number and variety of vehicles —they are less critical than they otherwise would be without the “backstop ” of those broader GHG ‑reducing programs.
https://lao.ca.gov/Publications/Report/5140

The Bay-Delta Plan and Voluntary Agreements: Ensuring Effective Legislative Oversight

Mar 18, 2026 - Given the high stakes for fish and water users, the Legislature can play a critical role in monitoring plan implementation. Because the VAs are designed to adapt as new information becomes available —and the board retains authority to terminate the VAs for some or all water users if they are not working as intended —performance will require ongoing evaluation.
https://lao.ca.gov/Publications/Report/5163

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

Feb 23, 2026 - For various reasons, including that current CDCR compensation appears to meet or exceed market rates and factors outside of compensation likely play a major role in the state ’s ability to staff mental health positions, we do not find across ‑the ‑board compensation increases to be a cost ‑effective strategy, though more targeted increases could be appropriate.
https://lao.ca.gov/Publications/Report/5137