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 - 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

2025 Update: Tech Company Stock Pay Accounts for One-Quarter of Withholding Growth So Far in 2025-26 [EconTax Blog]

Dec 3, 2025 - The figure above reflects this dynamic, in which non-RSU withholding (in dark green) contributed little to annual withholding growth during 2023 and early 2024. Since then, however, non-RSU withholding has grown more briskly and now accounts for historically solid withholding growth on its own.
https://lao.ca.gov/LAOEconTax/article/Detail/843

2025 Update: Tech Company Stock Pay Accounts for One-Quarter of Withholding Growth So Far in 2025-26 [EconTax Blog]

Dec 3, 2025 - The figure above reflects this dynamic, in which non-RSU withholding (in dark green) contributed little to annual withholding growth during 2023 and early 2024. Since then, however, non-RSU withholding has grown more briskly and now accounts for historically solid withholding growth on its own.
https://lao.ca.gov/LAOEconTax/Article/Detail/843

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

The 2025-26 California Spending Plan: Natural Resources and Environmental Protection

Oct 16, 2025 - The 2025-26 spending plan appropriates $91  million from Proposition  4 specifically for CNRA, including $47  million for the Urban Greening Program. Additionally, the budget includes a total of $77  million General Fund in 2025-26 for CNRA to coordinate and distribute across a variety of one-time efforts and projects.
https://lao.ca.gov/Publications/Report/5080

Updating the California Necessities Index

Aug 14, 2025 - To summarize, in Figure  3 , we provide relative assessments of each option using our criteria, dividing them into “green ” for the best measures on each criterion, “yellow ” for measures where some deficiency is identified, and “red ” for measures we judge to be significantly deficient.
https://lao.ca.gov/Publications/Report/5065

Insurer coverage of medical procedures and medication. [Ballot]

May 15, 2025 - Most of these people are enrolled in health plans, such as Kaiser Per manente or Anthem Blue Cross. The other around half are covered by public programs. These programs include Medi-Cal (a joint state-federal program that covers health care for low-i ncome people) and Medicare (a federal program that covers health care for elderly and disabled people).
https://lao.ca.gov/BallotAnalysis/Initiative/2025-002