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

The 2025-26 Budget: California Spending Plan Series [Publication Details]

Oct 16, 2025 - The 2025-26 Budget: California Spending Plan Series [Publication Details] Translate Our Website This Google ™ translation feature provided on the Legislative Analyst's Office (LAO) website is for informational purposes only.
https://lao.ca.gov/Publications/Detail/5105

The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - For California, the dot ‑com era —when stocks rose and then fell precipitously in response to widespread adoption of the internet —offers the most salient example. The internet has proven to be a transformative technology and, yet, the stock market ’s initial reaction was clearly overly exuberant.
https://lao.ca.gov/Publications/Report/5091

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

2022-23 Fiscal Outlook Revenue Estimates [EconTax Blog]

Nov 17, 2021 - As shown on the figure, this uncertainty is very large by the end of our forecast in 2025-26. Revenues ending up $75 billion below or $50 billion a bove our forecast is entirely plausible.
https://lao.ca.gov/LAOEconTax/Article/Detail/712

The 2026-27 Budget: In-Home Supportive Services

Mar 18, 2026 - The Governor ’s 2026 ‑27 budget assumes the caseload will continue growing at this faster rate, estimating a growth rate of 10  percent in 2025 ‑26 and 8  percent in 2026 ‑27. State Demographic Shifts Have Also Contributed to Increased Caseloads.
https://lao.ca.gov/Publications/Report/5166

Unit 8 (Firefighters) MOU Analysis [Publication Details]

Aug 26, 2022 - Unit 8 (Firefighters) MOU Analysis [Publication Details] Translate Our Website This Google ™ translation feature provided on the Legislative Analyst's Office (LAO) website is for informational purposes only.
https://lao.ca.gov/Publications/Detail/4621

Unit 8 (Firefighters) MOU Analysis

Aug 26, 2022 - Unit 8 (Firefighters) MOU Analysis August 26, 2022 Unit 8 (Firefighters) MOU Analysis On August 25, 2022, our office received a proposed memorandum of understanding (MOU) between the state and Bargaining Unit 8 (Firefighters).
https://lao.ca.gov/Publications/Report/4621