The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - These companies have made big bets on AI, spending hundreds of billions of dollars on data centers and offering extraordinary pay packages to recruit AI researchers. This spending, coupled with sizable gains to investors and tech company employees via stock options, is boosting state income tax receipts.
https://lao.ca.gov/Publications/Report/5091

The 2026-27 Budget: Overview of the Governor's Budget

Jan 12, 2026 - That said, recent budgets have set the SFEU bet ween $3.5  billion and $4.5  billion, so the Governor ’s budget proposal to set the balance to $4.5  billion is generally in line with recent policy.
https://lao.ca.gov/Publications/Report/5101

California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - Subscribe | California State Legislature | Online Voter Registration | Privacy Policy | Accessibility Legislative Analyst's Office | The California Legislature's Nonpartisan Fiscal and Policy Advisor 925 L Street, Suite 1000 Sacramento, CA 95814 | (916) 445-4656
https://lao.ca.gov/Publications/Report/5104

The 2025-26 Budget: Initial Comments on the Governor's May Revision

May 17, 2025 - Online Appendices 1 and 2 provide a complete list of solutions by program area. Spending‑Related Solutions Reductions. Under our definition, a spending reduction occurs when the Governor proposes spending less than what is required under current law or policy —more commonly referred to as a spending cut.
https://lao.ca.gov/Publications/Report/5044

The 2026-27 Budget: How to Use One-Time Revenue Improvements

Feb 20, 2026 - The 2026-27 Budget: How to Use One-Time Revenue Improvements The 2026-27 Budget How to Use One-Time Revenue Improvements Recent stock market performance continues to boost income tax collections. In our Fiscal Outlook , we strongly advised the Legislature to treat near-term strength in tax collections as temporary because we expect these gains to reverse.
https://lao.ca.gov/Publications/Report/5133

The 2021-22 Budget: Overview of the Spending Plan (Final Version)

Oct 27, 2021 - Subscribe | California State Legislature | Online Voter Registration | Privacy Policy | Accessibility Legislative Analyst's Office | The California Legislature's Nonpartisan Fiscal and Policy Advisor 925 L Street, Suite 1000 Sacramento, CA 95814 | (916) 445-4656
https://lao.ca.gov/Publications/Report/4448/1

The 2022-23 California Spending Plan: The State Appropriations Limit

Sep 30, 2022 - Payments will be made to taxpayers with adjusted gross income (AGI) below $500,000 (for joint filers) and $250,000 (for single filers). The payment amount is based on AGI, with larger payments going to taxpayers with lower income levels.
https://lao.ca.gov/Publications/Report/4631

The 2022-23 California Spending Plan: Other Provisions

Sep 27, 2022 - Subscribe | California State Legislature | Online Voter Registration | Privacy Policy | Accessibility Legislative Analyst's Office | The California Legislature's Nonpartisan Fiscal and Policy Advisor 925 L Street, Suite 1000 Sacramento, CA 95814 | (916) 445-4656
https://lao.ca.gov/Publications/Report/4626

Whether or Not to Tap Reserves to Solve Estimated Budget Problem Emerges as Key Fiscal Decision Facing California’s Legislature

Apr 19, 2023 - Subscribe | California State Legislature | Online Voter Registration | Privacy Policy | Accessibility Legislative Analyst's Office | The California Legislature's Nonpartisan Fiscal and Policy Advisor 925 L Street, Suite 1000 Sacramento, CA 95814 | (916) 445-4656
https://lao.ca.gov/Publications/Report/4762

The 2025-26 Budget: Overview of the Governor's Budget

Jan 13, 2025 - Higher estimates for personal income taxes and corporation taxes each account for a bit under half of this difference, with the small remainder attributable to a variety of other revenues. This improves the budget ’s bottom line.
https://lao.ca.gov/Publications/Report/4951