The 2024-25 Budget: Governor's Office of Business and Economic Development

Feb 20, 2024 - We estimate the Governor ’s budget predicts the state ’s 2024-25 budget will need to address a $58 billion deficit . In December, our office predicted a somewhat large deficit of $68 billion . Since then, recent data has continued to point to the budget problem being larger than the Governor’s budget assumes.
https://lao.ca.gov/Publications/Report/4846

California’s Low-Wage Workers and Minimum Wage

Mar 11, 2024 - As shown in Figure  6, the 2024 statewide minimum wage is noticeably below half of the 2022-2023 full-time median wage. By this measure, the state ’s minimum wage is around where it was one decade ago.
https://lao.ca.gov/Publications/Report/4878/3

The 2022-23 Budget: Governor’s Office of Business and Economic Development Proposals

Feb 11, 2022 - The Governor ’s budget proposes to increase TAEP by $6  million in 2022 ‑23, from $17  million to $23  million. The budget also would make the funding for TAEP and CIP permanent, a total of $26  million in 2023 ‑24 and  ongoing.
https://lao.ca.gov/Publications/Report/4529

The 2026-27 Budget: State Mandate—Disclosure Requirements and Deferral of Property Taxation

Feb 19, 2026 - The Commission determined that the county incurred a total amount of about $30,000 in back-year costs (incurred between 2022 and 2024), and about $8,000 in ongoing costs thereafter. The ongoing costs are for the p rinting of disclosures.
https://lao.ca.gov/Publications/Report/5130

The 2026-27 Budget: California Competes Extension

Mar 18, 2026 - To address this, the 2021, 2022, and 2023 budget acts each provided one-time funding of $120  million for a grant program to supplement the tax credit. The Governor ’s budget proposals in 2024 and 2025 each included $60  million to fund the grant program but were not included in the final budget act due to projected deficits in those years.
https://lao.ca.gov/Publications/Report/5162

The 2026-27 Budget: CDTFA’s Cannabis and Tobacco Programs

Feb 23, 2026 - In a November 2022 referendum, voters approved Chapter  34 of 2020 (SB  793, Hill), which bans most sales of flavored tobacco products. ( “Flavored ” refers to non ‑tobacco flavors, such as menthol cigarettes or fruit ‑flavored e ‑cigarettes.)
https://lao.ca.gov/Publications/Report/5132

The 2025-26 California Spending Plan: Other Provisions

Oct 16, 2025 - This is a decrease of $10  million  (6  percent) from the revised 2024-25 level. (This does not reflect some adjustments related to Control Sections 4.05 and 4.12 of the 2024-25 and 2025-26 budgets. Please see the “New and Ongoing Efforts to Achieve Efficiencies” section of our post for more information.)
https://lao.ca.gov/Publications/Report/5081/

California’s Low-Wage Workers and Minimum Wage

Mar 11, 2024 - We consider five different specifications of the model for Figures 3 and 7, and four different specifications for Figures 4, 5, and 6. All specifications for the wage gaps between specific demographic groups include the indicators for those demographic groups.
https://lao.ca.gov/Publications/Report/4878/4

Fixing Unemployment Insurance

Dec 2, 2024 - During the phase ‑in period, the state also entered the dot ‑com recession. These two cost pressures absorbed the remaining flexibility in the state ’s UI tax system. As  shown in Figure  4 , the state began this period in Schedule C but quickly moved to Schedule F+, the highest tax schedule, where it has remained since.
https://lao.ca.gov/Publications/Report/4943

The 2023-24 Budget: Multiyear Budget Outlook

May 23, 2023 - In 2021 ‑22 and 2022 ‑23, the Legislature committed to future one ‑time and temporary spending in 2023 ‑24 and beyond. Most of this spending no longer appears to be affordable. While the May Revision makes several billion dollars in spending reductions, it maintains $11  billion in one ‑time and temporary spending in 2023 ‑24.
https://lao.ca.gov/Publications/Report/4772