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

California New Car Registrations: July 2025 [EconTax Blog]

Sep 9, 2025 - Seasonally adjusted new car registrations grew 1.5 percent in June and 1 percent in July but remain 8 percent lower than three months prior. This moderate growth stands in contrast to the substantial volatility we had observed in the prior six months.
https://lao.ca.gov/LAOEconTax/Article/Detail/837

Cap-and-Invest: November 2025 Auction Update and 2026-27 Budget Context

Dec 9, 2025 - This revenue level would be insufficient to fully fund the $4.3  billion in statutory allocations under SB  840, let alone the additional $1.5  billion for activities specified in legislative intent discussed above.
https://lao.ca.gov/Publications/Report/5096

California New Car Registrations: June 2025 [EconTax Blog]

Jul 29, 2025 - Seasonally adjusted new car registrations grew 1.5 percent from May to June. This moderate growth stands in contrast to the substantial volatility we had observed in the prior six months. Due to the sharp decline in May, however, sales remained somewhat lower than the average level over the last couple of years.
https://lao.ca.gov/LAOEconTax/Article/Detail/835

The 2026-27 Budget: Governor’s Sustainable Aviation Fuel Tax Credit Proposal

Feb 24, 2026 - The only limit on the amount of credits that eligible producers could claim under the proposed policy is the amount of their California diesel excise ta x liability —currently totaling about $1.5  billion across all producers —and the amount of SAF that could be produced or imported to California.
https://lao.ca.gov/Publications/Report/5139

The 2026-27 Budget: CalWORKs

Feb 18, 2026 - The Governor ’s budget proposes $1.5  billion from the General Fund for CalWORKs in 2026-27, a year-over-year increase of $368  million (33  percent). Here again the increase is primarily because the Governor ’s budget assumes there will be no remaining unspent TANF funds in 2026-27 to offset General Fund costs as is the case in 2025-26.
https://lao.ca.gov/Publications/Report/5122

The 2024-25 Budget: Broadband Infrastructure at May Revision

May 23, 2024 - Proposal Middle-Mile Network Eliminates $1.5  Billion General Fund ($250  Million in 2024 ‑25, $1.25  Billion in 2025 ‑26) Proposed in Governor ’s January Budget. The May Revision eliminates the additional $1.5  billion General Fund —$250  million in 2024 ‑25 and $1.25  billion in 2025 ‑26 —proposed in the Governor ’s 2024 ‑25 budget for the middle-mile network.
https://lao.ca.gov/Publications/Report/4906

Annual Revision to Monthly Jobs Survey Shows Far Fewer Job Gains in 2024 [EconTax Blog]

Mar 21, 2025 - (Actual job growth for the year was 0.3 percent, compared to the 1.5 percent growth initial reported via the preliminary survey.)  
https://lao.ca.gov/LAOEconTax/Article/Detail/825