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 2023-24 Budget: Multiyear Assessment

Feb 15, 2023 - Three of those —the recession in the early 1990s, the dot ‑com bust in the early 2000s, and the Great Recession —resulted in large revenue shortfalls and ensuing multiyear deficits, even for some years after each recession ended.
https://lao.ca.gov/Publications/Report/4687

2022-23 Fiscal Outlook Revenue Estimates [EconTax Blog]

Nov 17, 2021 - Whereas revenues grew over 30 percent in 2020-21, our main forecast has growth drop to 8 percent in 2021-22, fall further to about 2 percent in 2022-23, and then becomes slightly negative in 202 3-24.
https://lao.ca.gov/LAOEconTax/Article/Detail/712

The 2021-22 Budget: Labor Agreements Ending Personal Leave Program 2020

Jun 25, 2021 - The state would contribute 5.1  percent of pay. 2023 ‑24: 2.6  Percent of Pay Withheld From Employees. The state would contribute 4.2  percent of pay. 2024 ‑25: 3.4  Percent of Pay Withheld From Employees.
https://lao.ca.gov/Publications/Report/4446

The 2023-24 Budget: College of the Law, San Francisco

Mar 8, 2023 - UC Law SF anticipates growing JD  enrollment slightly —by 17 FTE students (1.5  percent) in 2023 ‑24. It anticipates growing enrollment in its master ’s programs by 7 FTE students (13  percent). Most of this growth is expected to come from the Health Policy and Law program.
https://lao.ca.gov/Publications/Report/4732

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

The 2024-25 Budget: Child Care

Apr 15, 2024 - The Governor ’s budget provides a total of $94 million ($83  million General Fund, $7  million Title IV ‑E, and $4  million Proposition  64 funds) in 2023 ‑24 and 2024 ‑25 to support the Bridge program.
https://lao.ca.gov/Publications/Report/4893

The 2023-24 California Spending Plan: Human Services

Nov 6, 2023 - The 2023-24 California Spending Plan: Human Services $68 1% a In 2020 ‑21 and prior years, this was included in the single allocation. Starting in 2021 ‑22, it became a separate allocation. b Primarily includes various state ‑level contracts.
https://lao.ca.gov/Publications/Report/4812/2

The 2025-26 Budget: University of California

Feb 27, 2025 - The only staffing decline from 2014 ‑15 through 2023 ‑24 was a 5  percent decline in 2020 ‑21, as UC responded to the pandemic and associated fiscal reductions. Over the past decade, staffing generally has been outpacing enrollment growth.
https://lao.ca.gov/Publications/Report/4998