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Economy and Taxes (24)
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Results in Economy and Taxes from the past 5 years


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The 2023-24 Budget: Multiyear Budget Outlook

May 23, 2023 - LAO Spending Estimates Over $10   Billion Higher Than the Administration by 2026 ‑27. By 2026 ‑27, our estimate of General Fund spending (excluding spending on schools and community colleges) is $10  billion higher than the administration ’s estimate.
https://lao.ca.gov/Publications/Report/4772

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 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 - For example, the monthly CPS unit nonresponse rate grew from 10  percent in 2013 to 30  percent in 2023. Unit nonresponse rates for many other surveys are well above 30  percent. Another Weakness: Measurement Error.
https://lao.ca.gov/Publications/Report/4878/4

The 2021-22 Budget: Business Tax Incentives

Jan 28, 2021 - The overall rate ranges from 7. 25  p ercent to 10. 5  p ercent depending on citywide and countywide rates, with a statewide average of 8. 6  p ercent. The rate includes: 3. 94  p ercent for the state ’s General Fund. 3. 31  p ercent to 6. 56  p ercent for various local programs, including 1. 06  p ercent to counties for criminal justice, mental health, and social services under 2011 Realignment.
https://lao.ca.gov/Publications/Report/4327

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 2022-23 Budget: Supply Chain and Port Infrastructure Proposals

Feb 15, 2022 - Governor’s Proposal Provides $6   Million for Extended Field Office Hours. The Governor ’s budget includes $6  million from the General Fund in 2022 ‑23 for DMV to fund overtime for 200 Licensing Registration Examiners, as well as the necessary office and support staff, so that field offices with wait times of 30 days or more for commercial drive tests can offer additional testing slots on Saturdays.
https://lao.ca.gov/Publications/Report/4540

California’s Low-Wage Workers and Minimum Wage

Mar 11, 2024 - Roughly 20  percent live with one child, 15  percent with two children, and fewer than 10  percent with three or more children. The numbers for mid-to-high-wage workers are similar. Roughly 10  Percent of Low-Wage Workers Are Sole Breadwinner With Children.
https://lao.ca.gov/Publications/Report/4878/1

Fixing Unemployment Insurance

Dec 2, 2024 - As Figure  10 shows with some illustrative numbers, this employment tax raises the cost of adding a new employee to a business and that cost is proportionately higher for a low wage worker than a high wage worker.
https://lao.ca.gov/Publications/Report/4943

Evaluating State Economic Stimulus Proposals

Feb 1, 2021 - The current debt ‑service ratio of 4. 1  p ercent in 2020 ‑ 21 i s somewhat below the historical average of 4. 9  p ercent in the ten prior years, and well below the peak of 6  p ercent in 2009 ‑10. Does the Proposal Have Other Strong Policy Justifications?
https://lao.ca.gov/Publications/Report/4331