The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - The 2026-27 Budget: California's Fiscal Outlook Executive Summary Not Safe to Bet Artificial Intelligence ( AI) Fueled Exuberance Is Sustainable. Both the California and U.S. economies currently face significant headwinds.
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

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

Oct 27, 2021 - Health: Discretionary Spending Proposals in the 2021 ‑22 Budget Package General Fund (In Millions) Behavioral Health Continuum Infrastructure Program — School behavioral health partnerships and capacity — Children and Youth Behavioral Health Initiative state operations — Behavioral Health Services and Supports Platform — All Children Thrive Program augmentation — Support for Alzheimer ’s Disease
https://lao.ca.gov/Publications/Report/4448/1

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

Feb 20, 2026 - Figure 1 The State ’s New Wall of Debt (In Billions)
https://lao.ca.gov/Publications/Report/5133

The 2025-26 Budget: Overview of the Spending Plan

Oct 16, 2025 - As shown in Figure  2, the 2025 ‑26 spending plan includes nearly $10  billion in new borrowing, increasing total outstanding budgetary borrowing from $12  billion to  $22  billion. Figure 2 The State ’s New Wall of Debt (In Billions)
https://lao.ca.gov/Publications/Report/5079

The 2025-26 Budget: Multiyear Budget Outlook

May 24, 2025 - Figure 4 State ’s New Borrowing to Balance the Budget (In Billions)
https://lao.ca.gov/Publications/Report/5052

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

May 17, 2025 - New Discretionary Spending and Revenue Proposals Total Nearly $2 Billion. The January budget included about $700 million in discretionary spending and revenue reductions. The May Revision retains most January proposals, including the Governor’s plan to expand the film tax credit, and adds new proposals that bring the total to nearly $2 billion—$1.6 billion in spending and around $150 million in revenue reductions.
https://lao.ca.gov/Publications/Report/5044

The 2025-26 Budget: California's Fiscal Outlook

Nov 20, 2024 - No Capacity for New Commitments. While out ‑year estimates are highly uncertain, we anticipate the Legislature likely will need to address deficits in the future, for example by reducing spending or increasing taxes.
https://lao.ca.gov/Publications/Report/4939

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

Jan 13, 2025 - Spending and Tax Expenditure Proposals New Spending Proposals of Nearly $600   Million. The Governor ’s budget includes $570  million in new discretionary General Fund spending in 2025 ‑26. After 2025 ‑26, these proposals would add about $300 million in ongoing spending.
https://lao.ca.gov/Publications/Report/4951

Rethinking California's Reserve Policy

Apr 10, 2025 - These changes included: (1)  new rules for deposits into the BSA, (2)  limitations on the Legislature ’s ability to access the fund, and (3)  a new maximum level for constitutional deposits into the fund.
https://lao.ca.gov/Publications/Report/5028