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

Mar 9, 2026 - By most measures, the global financial crisis was more severe than the dot-com crash. The state 's unemployment rate, for example, peaked at 7 percent following the dot-com crash but reached nearly double that during the financial crisis and remained elevated for much longer.
https://lao.ca.gov/LAOEconTax/Article/Detail/852

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

Mar 9, 2026 - By most measures, the global financial crisis was more severe than the dot-com crash. The state 's unemployment rate, for example, peaked at 7 percent following the dot-com crash but reached nearly double that during the financial crisis and remained elevated for much longer.
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

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

The 2025-26 Budget: Understanding Recent Increases in the Medi-Cal Senior Caseload

Mar 6, 2025 - Figure  10 shows the average number of Medi ‑Cal enrollees over 65 who are enrolled in Medi ‑Cal for the first time in their lives in four selected time periods —before the continuous coverage period, during continuous coverage but before the asset test phase out, the asset test phase ‑out period, and finally after elimination of the asset test.
https://lao.ca.gov/Publications/Report/5010

The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - For California, the dot ‑com era —when stocks rose and then fell precipitously in response to widespread adoption of the internet —offers the most salient example. The internet has proven to be a transformative technology and, yet, the stock market ’s initial reaction was clearly overly exuberant.
https://lao.ca.gov/Publications/Report/5091

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

Home Prices Update: September 2021 [EconTax Blog]

Oct 20, 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/706

The 2023-24 Budget: Sexual Assault Evidence Kits Testing Mandate

Feb 27, 2023 - Evidence Tested at Various Laboratories. SAE and RADS kits may be tested in state, local, or private laboratories. The Department of Justice ’s Bureau of Forensic Services (BFS) provides criminal laboratory services —including DNA testing as well as SAE and RADS kits testing.
https://lao.ca.gov/Publications/Report/4714

The 2023-24 Budget: May Revenue Outlook [EconTax Blog]

May 13, 2023 - In the last 30 years, comparable two-quarter declines have occurred only around the Dot-Com Recession and the Great Recession. Similarly, income tax withholding (the largest component of income tax collections) has declined 5 percent so far this year, a stark departure from the double digit growth of the preceding two years.
https://lao.ca.gov/LAOEconTax/Article/Detail/774