Rethinking California's Reserve Policy

Apr 10, 2025 - Figure  6 shows a measure of state revenue volatility put together by researchers at the Pew Charitable Trusts using 15 years of revenue collection data. According to this measure, California has one of the most volatile tax revenue systems in the country, ranking fifth out of 50 states.
https://lao.ca.gov/Publications/Report/5028

The 2025-26 Budget: California's Fiscal Outlook

Nov 20, 2024 - These choices included about $11  billion in spending ‑related solutions and $15  billion in all other solutions, including $5.5  billion in temporary revenue increases and a $7  billion withdrawal from the state ’s rainy ‑day fund .
https://lao.ca.gov/Publications/Report/4939

California's Legislative Analyst's Office and the Value of Independence

Nov 15, 2024 - California 's Legislative Analyst 's Office and the Value of Independence November 15, 2024 Tweet Gabriel PetekLegislative Analyst Providing the Legislature with a clear picture of the state ’s budget condition and the fiscal choices it faces is a cornerstone responsibility of the Legislative Analyst ’s Office (LAO).
https://lao.ca.gov/Publications/Report/4938

The 2024-25 Budget: Deficit Update

Feb 20, 2024 - Options to Address $15  Billion in Additional Budget Problem If the budget problem increases by $15  billion, the Legislature will need to find a like amount of new budget solutions to ensure the budget is balanced for 2024 ‑25.
https://lao.ca.gov/Publications/Report/4850

The 2024-25 Budget: Overview of the Spending Plan

Sep 6, 2024 - As a result of these actions, the revised MCO tax package provides a substantial budget solution to the state ($6.3  billion through 2024 ‑25 and nearly $15  billion through 2026 ‑27). Transportation Changes to Multiyear Transportation Infrastructure Package.  
https://lao.ca.gov/Publications/Report/4922

The 2024-25 Budget: Overview of the Governor's Budget

Jan 13, 2024 - Specifically, the administration defines a $15  billion reduction to school and community college spending —relative to the enacted level in 2023 —as a baseline change. How Does the Governor Propose to Solve the Budget Problem?
https://lao.ca.gov/Publications/Report/4825

The 2023-24 Budget: Overview of the Spending Plan (Final Version)

Oct 16, 2023 - Appendix 4, Figure 7 Remaining Large One ‑Time and Temporary Augmentations From the 2021 ‑22 and 2022 ‑23 Budget Packages: Resources and Environment General Fund (In Millions) Emergency surge (helitanker contract component) $45 Clean Energy Reliability Investment Plan (SB 846) 100 Diablo Canyon land use planning — Coastal resilience SB 1 implementation 55 Clean Cars 4 All and other equity (ZEV
https://lao.ca.gov/Publications/Report/4788/4

New Inflation Poses Not So New Budget Risk [Publication Details]

Dec 15, 2022 - In fact, during much of the past 15-year period, inflation not only was subdued, it consistently ran below the Federal Reserve’s (the Fed’s) target of 2 percent. Chronically below-target inflation eventually prompted the Fed in August 2020 to adjust its policy framework to combat this tendency.
https://lao.ca.gov/Publications/Detail/4653

The 2023-24 California Spending Plan: Other Provisions

Nov 8, 2023 - Makes various changes related to mitigating the environmental impacts of certain types of transportation projects including a potential intercity rail project within the Interstate 15 right ‑of ‑way.
https://lao.ca.gov/Publications/Report/4814

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

Oct 27, 2021 - Note: Reflects administration estimates of budgetary actions taken as of July 15, 2021, but adjusted for major actions taken later in the legislative session. b A total of $3.3 billion General Fund for Caltrans and CalSTA will revert to the General Fund because subsequent legislation to allocate the funds was not enacted by October 19, as required by the budget act.
https://lao.ca.gov/Publications/Report/4448/1