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

Mar 9, 2026 - By most measures, the global financial crisis was more severe than the dot-com crash. The state 's unemployment rate, for example, peaked at 7 percent following the dot-com crash but reached nearly double that during the financial crisis and remained elevated for much longer.
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - By most measures, the global financial crisis was more severe than the dot-com crash. The state 's unemployment rate, for example, peaked at 7 percent following the dot-com crash but reached nearly double that during the financial crisis and remained elevated for much longer.
https://lao.ca.gov/LAOEconTax/article/Detail/852

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

Oversight of certain public benefit artificial intelligence (AI) companies. [Ballot]

Jan 20, 2026 - Such executives may be subject to penalties of up to $10 million per violation. In addition, certain willful misconduct —such as unauthorized expansion of AI capabilities or obstruction of investigations —would be punishable as a felony, with potential imprisonment of up to five years and fines of up to $10 million, or an amount equal to twice the financial gains resulting from the misconduct.
https://lao.ca.gov/BallotAnalysis/Initiative/2025-033

Firearms and Ammunition Revenue Update (2025 Q2) [EconTax Blog]

Aug 18, 2025 - Preliminary Total for 2024-25: $58 Million. For firearm and ammunition excise tax returns filed for 2024-25, the total amount of tax due is $58 million —a bit lower than the budget package revenue assumption.
https://lao.ca.gov/LAOEconTax/Article/Detail/836

Firearms and Ammunition Revenue Update (2025 Q3) [EconTax Blog]

Nov 18, 2025 - Current tax return data suggest that the total will be around $58 million. Preliminary Total for Third Quarter of 2025: $13 Million. For firearm and ammunition excise tax returns filed for the third quarter of 2025, the total amount of tax due is $13 million —slightly below the quarterly average in the first year of the program.
https://lao.ca.gov/LAOEconTax/Article/Detail/842

Firearms and Ammunition Revenue Update (2025 Q3) [EconTax Blog]

Nov 18, 2025 - Current tax return data suggest that the total will be around $58 million. Preliminary Total for Third Quarter of 2025: $13 Million. For firearm and ammunition excise tax returns filed for the third quarter of 2025, the total amount of tax due is $13 million —slightly below the quarterly average in the first year of the program.
https://lao.ca.gov/LAOEconTax/article/Detail/842

2025-26 Changes in Proposition 98 Spending [EdBudget]

Feb 4, 2025 - 2025-26 Changes in Proposition 98 Spending [EdBudget] 2025-26 Proposition 98 Spending $118,923 a Applies to Child and Adult Care Food Program, K-12 Mandates Block Grant, and special education. b Reflects additional LCFF costs associated with serving more students in transitional kindergarten, including costs of existing 12:1 staffing ratios. c The Governor's budget also includes $229 million in
https://lao.ca.gov/Education/EdBudget/Details/939

The 2024-25 Budget: Overview of the Governor's Budget

Jan 13, 2024 - If these actions were all counted as policy choices, rather than baseline changes, the resulting budget problem would be $58 billion. We Estimate the Net Difference Between LAO and Administration Budget Problems Is About $10   Billion.
https://lao.ca.gov/Publications/Report/4825

The 2026-27 Budget: California State University

Feb 24, 2026 - Growth in health care costs has been particularly notable the past three years (with the highest growth in 2023‑24 at 10 percent). Pension Contribution Rates Have Remained Relatively Flat in Recent Years.
https://lao.ca.gov/Publications/Report/5142