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

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

Mar 3, 2026 - SSP Grants Were Increased in 2016-17, 2021-22, 2022-23, and 2023-24.  Since the Great Recession, as seen in Figure  2, grants for individuals and couples have been increased four times —in 2016-17 (by 2.76  percent), 2021-22 (by 23.95  percent), 2022-23 (by 10.3  percent), and 2023-24 (by 9.2  percent).
https://lao.ca.gov/Publications/Report/5148

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

The 2026-27 Budget: Judicial Branch

Feb 11, 2026 - The budget proposes $11  million one ‑time General Fund to relocate 24 courtrooms out of leased space in Los Angeles County. The lease will not be extended as the building is expected to be sold. Of this amount, $4.6  million would be used to relocate 17 courtrooms into six existing courthouses.
https://lao.ca.gov/Publications/Report/5113

The 2026-27 Budget: Child Care and State Preschool

Mar 19, 2026 - Funding increases for State Preschool in 2021‑22 and 2022‑23 were primarily due to rate increases. In 2023‑24 and 2024‑25, the state made one‑time reductions to the program in recognition that funding provided exceeded the amount necessary to fund all State Preschool contracts.
https://lao.ca.gov/Publications/Report/5168

The 2026-27 Budget: Child Welfare

Mar 3, 2026 - Flexible Family Supports and Home ‑Based Foster Care Funding Program $50 million one ‑time in 2022 ‑23 and again in 2023 ‑24, expendable for three years (through June 30, 2026 for the later allocation).
https://lao.ca.gov/publications/report/5147

The 2026-27 Budget: Bureau for Private Postsecondary Education

Mar 25, 2026 - Most notably, in 2021-22, DCA issued a $12  million loan to the BPPE Fund from the Bureau of Automotive Repair ’s Vehicle Inspection and Repair Fund. (Control Section 14.00 of the annual budget act authorizes DCA to issue loans between the special funds it oversees.)
https://lao.ca.gov/Publications/Report/5169

The 2026-27 Budget: Food Assistance Programs

Feb 18, 2026 - California ’s most recent payment error rate, for federal fiscal year 2023-24, is about 11  percent. (The comparable national error rate is similarly about 11  percent.) Payment error rates in California and nationally have risen in recent years, particularly since the COVID-19 pandemic.
https://lao.ca.gov/Publications/Report/5126

The 2026-27 Budget: Governor’s Office of Land Use and Climate Innovation Proposals

Mar 19, 2026 - Through its approval of budget requests in 2023-24, the Legislature essentially signed off on this change in approach. As such, providing the necessary resources to comply with applicable human resources laws and practices would be consistent and appropriate.
https://lao.ca.gov/Publications/Report/5167