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

Mar 9, 2026 - The four major downturns were more severe, with income tax declines ranging from 17 percent to 30 percent (average of 24 percent). Perhaps more concerning, income tax revenues stayed depressed for years following major downturns.
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - The four major downturns were more severe, with income tax declines ranging from 17 percent to 30 percent (average of 24 percent). Perhaps more concerning, income tax revenues stayed depressed for years following major downturns.
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

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: Estimated State Savings From Proposition 47

Feb 23, 2026 - Figure 1 Administration Projects Decrease in Proposition 47 Savings Due to Proposition 36 2023 ‑24
https://lao.ca.gov/Publications/Report/5108

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: 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: Child Care and State Preschool

Mar 19, 2026 - As a result of the pandemic, State Preschool enrollment experienced a significant decline of roughly 65,000 students in 2020 (Figure 3). While enrollment has increased since 2020, it remains significantly below pre‑pandemic levels.
https://lao.ca.gov/Publications/Report/5168

The 2026-27 Budget: Department of Justice

Feb 11, 2026 - For example, the 2023-24 budget package included $19.3  million in 2023-24 (decreasing to $6  million annually beginning in 2026-27) —mostly from the DROS Special Account —for the implementation of five pieces of enacted legislation, increased or new baseline workload, and the continuation of FITSM.
https://lao.ca.gov/Publications/Report/5118

Enrollment by Higher Education Segment [EdBudget]

Feb 5, 2026 - At CCC, 1 FTE student is 525 contact hours per year, which on average generates about 24 credits. For undergraduate education at CSU and UC, 1 FTE student is 30 credit units. For graduate education at CSU, UC, and CLSF, 1 FTE student is 24 credit units.
https://lao.ca.gov/Education/EdBudget/Details/1035