The 2025-26 Budget: California's Fiscal Outlook

Nov 20, 2024 - Furthermore, a single company (Nvidia) accounts for about one ‑third of the total gains in the S &P 500 stock index over the last year. Overall, without more positive signs from the broader California economy, it is difficult to be highly confident in the recent revenue recovery.
https://lao.ca.gov/Publications/Report/4939

California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - Whereas California’s labor market has stagnated over the last two years, the S&P 500 stock index has appreciated roughly 50 percent over the same period. And most of this increase has come from skyrocketing share prices among a handful of firms associated with innovations in Artificial Intelligence (AI).
https://lao.ca.gov/Publications/Report/5104

The 2021-22 Budget: Overview of the Spending Plan (Final Version)

Oct 27, 2021 - The bulk of CalAIM funding—ramping up and then settling in at $500 million General Fund ($900 million total funds) ongoing—supports an expanded array of services aimed at addressing the health and social needs of Medi‑Cal’s high‑cost, high‑need populations.
https://lao.ca.gov/Publications/Report/4448

The 2021-22 Budget: Initial Comments on the Governor’s May Revision

May 17, 2021 - The largest proposals include $500  million for Golden State teacher grants and a $500  million endowment for learning-aligned employment. Reserves and Debt $11  Billion in Constitutional Reserve and Debt Requirements.
https://lao.ca.gov/Publications/Report/4432

The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - The stock market (S &P 500) has risen 50  percent in the last two years. Most of these gains come from the meteoric rise in the value of a handful of tech companies that investors believe will be major beneficiaries of recent advances in AI.
https://lao.ca.gov/Publications/Report/5091

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

Jan 13, 2024 - Under our definition, a spending reduction occurs when the Governor proposes the state spend less money than what has been established under current law or policy. More colloquially, these are spending cuts.
https://lao.ca.gov/Publications/Report/4825

The 2021-22 Spending Plan: Other Provisions

Sep 23, 2021 - Marketing Zero-Emissions Vehicles $5  Million for Zero-Emissions Vehicle Marketing. The budget includes $5  million General Fund to raise consumer awareness of zero-emission vehicle technology and its benefits in partnership with other organizations, including vehicle manufacturers.
https://lao.ca.gov/Publications/Report/4452

The 2022-23 Budget: Overview of the Spending Plan

Oct 12, 2022 - The 2021 ‑22 budget included funding to begin implementation of service provider rate reform, with funding for rate increases and quality incentives ramping up to $1.2  billion General Fund in 2025 ‑26 and ongoing.
https://lao.ca.gov/Publications/Report/4616

The 2026-27 Budget: Overview of the Governor's Budget

Jan 12, 2026 - Ongoing, the Governor ’s spending ‑related solutions provide $5  billion in savings within a few years. Appendix 1 provides a list of the Governor ’s budget solutions. Generates $5.6 Billion School and Community College Settle‑Up Obligation in 2025‑26.
https://lao.ca.gov/Publications/Report/5101

The 2021-22 Budget: Initial Comments on the Governor’s May Revision

May 17, 2021 - We only plan to update this figure for very significant changes (that is, those greater than $500 million). CDPH = California Department of Public Health; COVID ‑19 = coronavirus disease 2019; CHHS = California Health and Human Services Agency; HHS = Health and Human Services; GARE = Government Alliance on Race and Equity; EMSA = Emergency Medical Services Authority; CalAIM =
https://lao.ca.gov/Publications/Report/4432/2