The 2025-26 Budget: Governor’s Office of Business and Economic Development

Mar 18, 2025 - Overall, most programs increase employment and earnings among participants while receiving a subsidy. However, the ultimate goal is to improve long-term employment prospects of these workers. Research suggests that it is less common that programs lead to h igher employment or earnings after the subsidy ends.
https://lao.ca.gov/Publications/Report/5018

The 2026-27 Budget: California Competes Extension

Mar 18, 2026 - Because the tax credit is nonrefundable, businesses without a significant California tax liability cannot benefit from the incentive it provides. Two types of businesses fall under this category. First, some firms lack tax liability in California due to ongoing and substantial use of other tax deductions and credits, most commonly the Research & Development Tax Credit and the Net Operating Loss deduction.
https://lao.ca.gov/Publications/Report/5162

The 2021-22 Budget: Business Tax Incentives

Jan 28, 2021 - Of this amount, after accounting for the five ‑year structure of the tax credit agreements and the credit recaptures, we estimate that business have earned roughly $ 500  m illion in California Competes tax credits.
https://lao.ca.gov/Publications/Report/4327

California’s Low-Wage Workers and Minimum Wage

Mar 11, 2024 - An adult couple without children live in a studio/efficiency. An adult couple with one or two children live in a two-bedroom apartment. Selected References Arellano, Manuel and Stephane Bonhomme (2017).
https://lao.ca.gov/Publications/Report/4878/4

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

Feb 20, 2024 - ISRF Could Continue Normal Operations in 2024-25 Without Additional $50  Million. Without this proposal, IBank currently anticipates having around $60  million in ISRF funds available to loan to public agencies in 2024-25.
https://lao.ca.gov/Publications/Report/4846

Fixing Unemployment Insurance

Dec 2, 2024 - Employers pay UI taxes on the first $7,000 of each worker ’s earnings, but the vast majority of workers earn more than $7,000  in each job annually. As a result, employers pay the same amount in UI taxes on behalf of basically every employee in the state, regardless of how much that employee earns.
https://lao.ca.gov/Publications/Report/4943

California’s Low-Wage Workers and Minimum Wage

Mar 11, 2024 - Differences in Weekly Hours Amplify Earnings Inequality. Figure  5 shows that mid-to-high-wage workers are much more likely to work full-time than low-wage workers. As a result, the gap between these groups ’ weekly earnings is wider than the gap between their hourly wages.
https://lao.ca.gov/Publications/Report/4878/1

The 2025-26 Budget: California’s Film Tax Credit

Feb 28, 2025 - Motion Picture Industry Workers Earn Above Average Wages. In 2023, workers in California ’s motion picture industry earned a weekly wage of over $2,700 on average, 60  percent higher than the average weekly wage in California across all industries ($1,730).
https://lao.ca.gov/Publications/Report/5000

Evaluating State Economic Stimulus Proposals

Feb 1, 2021 - The state also may borrow against special fund revenues for some types of spending without first gettin g voter approval. However, policymakers should consider that planning and initiating new construction projects often is a lengthy process.
https://lao.ca.gov/Publications/Report/4331

Tax Credit Expansions in the American Rescue Plan

Apr 13, 2021 - This piece will briefly describe the changes to three credits that apply to many lower-income and middle-income filers: the Earned Income Tax Credit (EITC), the Child Tax Credit (CTC), and the Child and Dependent Care Expenses Credit ( “child care credit ”).
https://lao.ca.gov/Publications/Report/4410