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

Mar 9, 2026 - March 9, 2026 Chas Alamo State Budget Is Heavily Reliant on Stock Market Earnings. California 's progressive income tax system is heavily reliant on stock market earnings because the state has concentrated its tax collections among high-income earners whose incomes are most tied to the stock market through capital gains, equity compensation, and investment returns.
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - March 9, 2026 Chas Alamo State Budget Is Heavily Reliant on Stock Market Earnings. California 's progressive income tax system is heavily reliant on stock market earnings because the state has concentrated its tax collections among high-income earners whose incomes are most tied to the stock market through capital gains, equity compensation, and investment returns.
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

MOU Fiscal Analysis: Bargaining Unit 6 (Corrections)

Jun 23, 2025 - Unlike the CalHR-developed methodology used for the compensation study of Units 2, 7, 9, 10, 12, 13, 16, 18, and 19, the Unit 6 compensation study uses a methodology that was agreed to at the bargaining table through a Joint Labor Management Committee process.
https://lao.ca.gov/Publications/Report/5058

MOU Fiscal Analysis: Bargaining Unit 6 (Corrections) [Publication Details]

Jun 23, 2025 - MOU Fiscal Analysis: Bargaining Unit 6 (Corrections) [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/5058

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

MOU Fiscal Analysis: Bargaining Unit 9 (Professional Engineers)

Jun 27, 2025 - The state and Unit 9 agreed to this prefunding arrangement in 2015 with the fund expected to be fully funded for Unit 9 within 30 years. Today, the state and employees represented by Unit 9 contribute 2 percent of pay to prefund the benefit for Unit 9 members.
https://lao.ca.gov/Publications/Report/5061

The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - Moreover, we estimate costs in other programs to be about $6  billion higher than anticipated. Starting in 2027 ‑28, we estimate structural deficits to grow to about $35  billion annually due to spending growth continuing to outstrip revenue growth.
https://lao.ca.gov/Publications/Report/5091

Unit 9 (Professional Engineers) MOU Analysis [Publication Details]

Aug 25, 2022 - Unit 9 (Professional Engineers) 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/4620

Unit 9 (Professional Engineers) MOU Analysis

Aug 25, 2022 - Since it ratified the Unit 6 agreement, the Legislature has been asked to consider MOUs for Bargaining Units 2 (pending ratification), 9 (pending ratification), 13 (ratified), and 18 (pending ratification).
https://lao.ca.gov/Publications/Report/4620