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 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 2023-24 Budget: Commission on Peace Officer Standards and Training—Office of Administrative Hearing Costs

Feb 13, 2023 - As of January 2023, POST had filled roughly one-third of its 16 positions in the Intake and Disposition bureau, which is responsible for analyzing and evaluating complaints received from the public and serious misconduct allegations received from l aw enforcement agencies.
https://lao.ca.gov/Publications/Report/4677

Building California’s Behavioral Health Infrastructure: Progress Update and Opportunities for the Proposition 1 Bond

Feb 5, 2025 - The administration is working to allocate the bond funding quickly, with plans to aw ard up to $3.3  billion in May 2025 and a stated commitment to award all funding by 2026. This leaves a brief window in which the Legislature can conduct oversight of the program and influence the administration ’s program administration decisions.
https://lao.ca.gov/Publications/Report/4954

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: 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