Income Tax Withholding Tracker: June 1-June 5 [EconTax Blog]

Jun 5, 2020 - Nonetheless, given the pace and severity of the shift in the state ’s economy resulting from the COVID-19 pandemic, tracking weekly withholding is worthwhile as a way to assess the state ’s rapidly changing economic situation.
https://lao.ca.gov/LAOEconTax/Article/Detail/477

Weekly Unemployment Claims Update: May 24-30 [EconTax Blog]

Jun 5, 2020 - Should continued claims keep rising, however, it could signal that the state is in for a protracted slump. Initial Claims Similar to Recent Weeks. California had 230,461 initial claims between May 24 and May 30.
https://lao.ca.gov/LAOEconTax/Article/Detail/476

The 2020-21 Budget: Addressing Revenue Uncertainty in the 2020-21 Cap-and-Trade Expenditure Plan

Jun 4, 2020 - Additionally, there may be other programs at the local level, such as local air district implementation of AB  617, where state funding might be needed to maintain staff and ongoing administrative activities.
https://lao.ca.gov/Publications/Report/4250

The 2020-21 Budget: Effect of Lower Cap-and-Trade Revenues on the High-Speed Rail Project

Jun 4, 2020 - The economic effects of COVID-19 are creating very large budgetary problems for the state. Specifically, the Governor ’s May Revision estimated the state faces a General Fund budget problem of $54.3  billion.
https://lao.ca.gov/Publications/Report/4252

The 2020-21 May Revision: CalWORKs Caseload-Driven Costs in the 2020-21 May Revision

Jun 2, 2020 - As noted above, UI benefits contribute to the long lags between initial jobless claims and increased CalWORKs caseload that the state experienced in previous recessions. Recent state and federal actions have expanded UI benefits in two important ways.
https://lao.ca.gov/Publications/Report/4249

Income Tax Withholding Tracker: May 25-May 29 [EconTax Blog]

May 29, 2020 - Nonetheless, given the pace and severity of the shift in the state ’s economy resulting from the COVID-19 pandemic, tracking weekly withholding is worthwhile as a way to assess the state ’s rapidly changing economic situation.
https://lao.ca.gov/LAOEconTax/Article/Detail/474

Weekly Unemployment Claims Update: May 17-May23 [EconTax Blog]

May 29, 2020 - Should continued claims keep rising, however, it could signal that the state is in for a protracted slump. Initial Claims At Lowest Level in Two Months. California had 212,343 initial claims between May 17 and May 23.
https://lao.ca.gov/LAOEconTax/Article/Detail/473

May 2020 Cap-and-Trade Auction Update [EconTax Blog]

May 28, 2020 - Unlike recent auctions, where essentially all state-owned allowances offered for sale were purchased, only 4 percent of the available state-owned allowances were purchased at the May 2020 auction. (About 34 percent of the overall number of allowances offered for sale were purchased—including allowances held by the state, utilities, and Quebec.)
https://lao.ca.gov/LAOEconTax/Article/Detail/472

April 2020 Jobs Report [EconTax Blog]

May 22, 2020 - Bureau of Labor Statistics released California 's   April 2020 state jobs  report earlier this month. Statewide nonfarm employment dropped by an estimated 2,344,700 in April, and the March decline was revised upward from 99,500 to 210,500.
https://lao.ca.gov/LAOEconTax/Article/Detail/471

Income Tax Withholding Tracker: May 18-May 22 [EconTax Blog]

May 22, 2020 - Nonetheless, given the pace and severity of the shift in the state ’s economy resulting from the COVID-19 pandemic, tracking weekly withholding is worthwhile as a way to assess the state ’s rapidly changing economic situation.
https://lao.ca.gov/LAOEconTax/Article/Detail/470