California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - The current discrepancy over the size of the state ’s budget deficit —$18  billion under the Legislative Analyst ’s Office estimate versus $3  billion in the Governor ’s budget —fits squarely within that pattern.
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

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

Feb 18, 2026 - CDSS estimates that there are about 954,800 individuals that fit the expanded ABAWD criteria (compared to about 345,400 individuals who are estimated to meet the prior criteria). Of these, CDSS estimates approximately 845,000 individuals that will become subject to the work requirement beginning June 2026 and not qualify for an exemption.
https://lao.ca.gov/Publications/Report/5126

The 2022-23 Budget: Governor’s Office of Emergency Services Proposals

Feb 20, 2022 - An assessment of existing emergency response capacity, such as how emergency response capacity is distributed throughout the state and how OES capacity fits in with the capabilities of other responders.
https://lao.ca.gov/Publications/Report/4551

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

Feb 23, 2026 - A plain ‑language reading of the budget act gives each department substantial flexibility to use appropriations as it sees fit. The Legislature grants this flexibility with the understanding that the administration will strive to respect the Legislature ’s and voters ’ intent and use resources efficiently, transparently, and equitably.
https://lao.ca.gov/Publications/Report/5132

The 2026-27 Budget: California Community Colleges

Mar 5, 2026 - If  the state does not provide an increase, then each district would see its apportionments prorated downward to fit within the previously enacted funding level. Under the administration ’s apportionments cost estimates at the Governor ’s budget, each district ’s apportionments would be reduced by less than 1  percent.
https://lao.ca.gov/Publications/Report/5150

The 2024-25 Budget: Food Assistance Programs

Feb 16, 2024 - The federal government annually adjusts CalFresh bene fits in accordance with changes in the cost of food, and in addition to this annual adjustment, made a major upward revision in 2021 when it revised the contents of the “Thrifty Food Plan ” (the meal plan on which CalFresh benefits are based) to account for developments in nutritional science.
https://lao.ca.gov/Publications/Report/4845

Assessment of CSU’s Graduation Initiative 2025

Dec 10, 2025 - Recommendations In this section, we first recommend the Legislature consider how CSU’s graduation initiative fits within its overall state and higher education priorities. If the Legislature desires to maintain or augment state funding for a new CSU graduation initiative, we have three specific recommendations for it to consider.
https://lao.ca.gov/Publications/Report/5099