The 2026-27 Budget: How to Use One-Time Revenue Improvements

Feb 20, 2026 - Figure 1 The State ’s New Wall of Debt (In Billions)
https://lao.ca.gov/Publications/Report/5133

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: Overview of the Governor's Budget

Jan 12, 2026 - Taken together, the budget solutions in the Governor ’s budget result in an improvement in the budget ’s bottom line by $9  billion. Ongoing, the Governor ’s spending ‑related solutions provide $5  billion in savings within a few years.
https://lao.ca.gov/Publications/Report/5101

The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - These strong income tax collections are being driven by enthusiasm around AI, which has pushed the stock market to record highs and boosted compensation among the state ’s tech workers. The stock market (S &P 500) has risen 50  percent in the last two years.
https://lao.ca.gov/Publications/Report/5091

The 2025-26 Budget: Overview of the Spending Plan

Oct 16, 2025 - Figure 2 The State ’s New Wall of Debt (In Billions)
https://lao.ca.gov/Publications/Report/5079

The 2025-26 Budget: Multiyear Budget Outlook

May 24, 2025 - Budget Condition This Year ’s Budget Problem Very Similar to Administration ’s Under LAO Estimates. We independently assessed the state ’s budget condition using our own revenue and spending estimates, assuming the Governor ’s May Revision policies are implemented.
https://lao.ca.gov/Publications/Report/5052

The 2025-26 Budget: Initial Comments on the Governor's May Revision

May 17, 2025 - In this brief, we provide a summary of and comments on this revised budget, focusing on the Governor ’s proposals for and the overall condition of the state General Fund —the budget ’s main operating account.
https://lao.ca.gov/Publications/Report/5044

Rethinking California's Reserve Policy

Apr 10, 2025 - In  Chapter  2, using the tools outlined in Chapter  1, we evaluate the state ’s current reserve policy. Chapter  3 examines possible changes to the state ’s policy, including the Governor ’s proposals and our recommended alternatives.
https://lao.ca.gov/Publications/Report/5028

The 2025-26 Budget: Undertaking Fiscal Oversight

Feb 24, 2025 - As the state ’s primary policymaking body and stewards of public resources, the Legislature regularly undertakes oversight of the state ’s programs. While this oversight can take a few forms, the Legislature ’s oversight function is often exercised through policy and budget committee hearings.
https://lao.ca.gov/Publications/Report/4983

The 2025-26 Budget: Overview of the Governor's Budget

Jan 13, 2025 - Governor ’s Budget Includes Some Smaller Proposals. The Governor ’s budget includes three categories of discretionary proposals. First, some proposals provide short ‑term budget savings that create more budget capacity.
https://lao.ca.gov/Publications/Report/4951