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

Mar 9, 2026 - Smaller, short-lived corrections occur frequently, among them the 1997 Asian financial crisis, the 2011 U.S. debt celing standoff, the 2015 Chinese growth slowdown, the early pandemic drop in 2020, and the 2025 tariff selloff.
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - Smaller, short-lived corrections occur frequently, among them the 1997 Asian financial crisis, the 2011 U.S. debt celing standoff, the 2015 Chinese growth slowdown, the early pandemic drop in 2020, and the 2025 tariff selloff.
https://lao.ca.gov/LAOEconTax/article/Detail/852

California New Car Registrations: January 2026 [EconTax Blog]

Mar 11, 2026 - For example, registrations in January 2026 were 15 percent lower than in January 2020.  
https://lao.ca.gov/LAOEconTax/Article/Detail/853

California New Car Registrations: January 2026 [EconTax Blog]

Mar 11, 2026 - For example, registrations in January 2026 were 15 percent lower than in January 2020.  
https://lao.ca.gov/LAOEconTax/article/Detail/853

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 2021-22 Budget: Labor Agreements Ending Personal Leave Program 2020 [Publication Details]

Jun 25, 2021 - The 2021-22 Budget: Labor Agreements Ending Personal Leave Program 2020 [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/4446

The 2021-22 Budget: Labor Agreements Ending Personal Leave Program 2020

Jun 25, 2021 - Unit 6 (Corrections) PLP 2020 Side Letter. On June 18, 2020, the administration submitted to JLBC a side letter to implement cost reductions, including establishing PLP 2020. The side letter had a term of July 1, 2020 through June 30, 2022.
https://lao.ca.gov/Publications/Report/4446

Home Price Update: October 2021 [EconTax Blog]

Nov 18, 2021 - Previous recessions have had disparate effects on home prices: they were largely unaffected by the collapse of the dot-com bubble in 2001, while in the late 2000s the collapse of the housing bubble was the single biggest factor that led to the financial crisis.
https://lao.ca.gov/LAOEconTax/Article/Detail/714

2022-23 Fiscal Outlook Revenue Estimates [EconTax Blog]

Nov 17, 2021 - Along with this surge in assets prices has com e a significant uptick in initial public offerings of California companies. This activity similarly has boosted the incomes of Californians who own or work for these companies, which results in both higher withholding collections and tax payments for capital gains.
https://lao.ca.gov/LAOEconTax/Article/Detail/712

California New Car Registrations: December 2025 [EconTax Blog]

Feb 9, 2026 - Like many other measures of economic activity, registrations plummeted in March and April 2020. Registrations rebounded substantially in the subsequent months but generally have remained below pre-pandemic levels.  
https://lao.ca.gov/LAOEconTax/article/Detail/848