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

The 2026-27 Budget: Food Assistance Programs [Publication Details]

Feb 18, 2026 - In this post, we assess the Governor's proposed budget for food assistance programs, including CalFresh.
https://lao.ca.gov/Publications/Detail/5126

The 2026-27 Budget: Food Assistance Programs

Feb 18, 2026 - In this post, we assess the Governor's proposed budget for food assistance programs, including CalFresh.
https://lao.ca.gov/Publications/Report/5126

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 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

The 2025-26 California Spending Plan: Housing, Homelessness and Local Government

Oct 22, 2025 - Authorizes New Statewide Vehicles Miles Traveled (VMT) Mitigation “Bank. ” In addition, the budget package creates a new option for developers, at the discretion of the local public agency, to meet their transportation-related CEQA requirements for projects.
https://lao.ca.gov/Publications/Report/5082

The 2025-26 California Spending Plan: Other Provisions

Oct 16, 2025 - The budget package removes both (1)  savings and loans, and (2)  banking or financial business from the list of QBA from tax year 2025 onwards. The administration estimates this change will increase revenues by $330  million in fiscal year 2025-26, decreasing slightly to $270  million by 2028-29.
https://lao.ca.gov/Publications/Report/5081/

MOU Fiscal Analysis: Bargaining Unit 9 (Professional Engineers)

Jun 27, 2025 - In the event that employees have unused PLP 2025 leave in their leave banks upon separation, the agreement specifies that the employees ’ unused leave would be cashed out upon separation at their final salary level.
https://lao.ca.gov/Publications/Report/5061