With New Deficits Looming, California Will Weigh its Options for Allocating a Large Revenue Windfall

Dec 1, 2020 - These and other cost drivers put the state ’s expenditures on a steepening trajectory. Meanwhile, in a shadow cast forward by the pandemic-induced recession, we expect both the economy and tax revenues in the years ahead will grow more slowly than before.
https://lao.ca.gov/Publications/Report/4305

IRS Migration Data Shows Increased Movement in 2020 [EconTax Blog]

Aug 16, 2022 - The forgone state income tax collections associated with this net outmigration likely represent a bit over one percent of total state income tax revenues. This is about double the amount of forgone revenues associated with outmigration in 2019.
https://lao.ca.gov/LAOEconTax/Article/Detail/747

The 2023-24 Budget: Fiscal Outlook for Schools and Community Colleges

Nov 16, 2022 - Specifically, it could reduce certain ongoing expenditures and increase one ‑time spending. Below, we outline a few options for reducing ongoing expenditures. Consider Reductions to Expanded Learning Opportunities Program (ELOP).
https://lao.ca.gov/Publications/Report/4648

U.S. Retail Sales Update: January 2023 [EconTax Blog]

Feb 15, 2023 - U.S. retail sales have grown 6.4 percent over the last 12 months, but have been flat after accounting for inflation.
https://lao.ca.gov/LAOEconTax/Article/Detail/769

Amid Good Fiscal Times, Planning for the Future Is Crucial

May 21, 2019 - The outlook represents our best estimate of future expenditures but, inherently, we cannot account for unanticipated events, most of which introduce higher, rather than lower, costs. Finally, uncertainty is not confined to the expenditure side; revenues are also susceptible to missing the forecast.
https://lao.ca.gov/Publications/Report/4051

The 2022-23 Budget: Overview of the Governor's Budget

Jan 13, 2022 - For the budget year, as the Legislature considers the Governor ’s budget proposals, those proposals that currently count as excludable expenditures —such as spending on capital outlay —for the most part can only be reallocated to other SAL ‑related purposes, such as tax reductions or an alternative excluded  expenditure.
https://lao.ca.gov/Publications/Report/4492

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

Mar 8, 2023 - Second, the Governor ’s budget includes $3  million one ‑time General Fund for the campus ’ Urban Alchemy program, with the funds available for expenditure over the next three years  (through 2025 ‑26).
https://lao.ca.gov/Publications/Report/4732

Funding for students attending private schools. [Ballot]

Nov 2, 2023 - Districts pay off these bonds over time with revenue increases generated by increasing their property tax rates. The other sources of local revenue include donations, parcel taxes, interest earnings, and developer fees.
https://lao.ca.gov/BallotAnalysis/Initiative/2023-026

Updated Unemployment Insurance Fund Forecast Shows Structural Deficit [EconTax Blog]

Jul 7, 2023 - Employers pay regular UI payroll taxes into the fund. These payroll taxes are used to pay out benefits. In January and May each year, EDD publishes a two-year forecast of UI benefits, UI payroll tax receipts, and other key fiscal information related to the state ’s UI Trust Fund.
https://lao.ca.gov/LAOEconTax/Article/Detail/779

Updated Unemployment Insurance Fund Forecast Shows Structural Deficit [EconTax Blog]

Jul 7, 2023 - Employers pay regular UI payroll taxes into the fund. These payroll taxes are used to pay out benefits. In January and May each year, EDD publishes a two-year forecast of UI benefits, UI payroll tax receipts, and other key fiscal information related to the state ’s UI Trust Fund.
https://lao.ca.gov/LAOEconTax/article/Detail/779