The 2024-25 Budget: Flood Management Proposals

Feb 26, 2024 - If the Legislature believes these projects are a top priority and chooses to fund them, it likely will need to make additional reductions to other planned expenditures given the worsening budget picture.
https://lao.ca.gov/Publications/Report/4856

The 2024-25 Budget: California Department of Corrections and Rehabilitation

Feb 22, 2024 - The Governor proposes to budget for CDCR ’s utility costs based on actual prior expenditures through CDCR ’s biannual adjustment process. Under the proposed methodology, the adjustment reflected in the Governor ’s budget would be based on the prior fiscal year ’s actual expenditures.
https://lao.ca.gov/Publications/Report/4852

The 2024-25 Budget: Governor's Office of Business and Economic Development

Feb 20, 2024 - Some options include: California Competes tax credits, New Employment tax credits, Research and Development tax credits, and the California Alternative Energy and Advanced Transportation Financing Authority ’s sales and use tax exclusion program.
https://lao.ca.gov/Publications/Report/4846

Recent Revenues Coming in Below Governor's Budget Projections [EconTax Blog]

Jan 22, 2024 - Individuals with substantial capital gains and other non-wage income make quarterly estimated tax payments to meet state tax requirements. As shown in the figure  below, January estimated tax payments from these taxpayers are running well below targets needed to meet the Governor 's budget revenue levels for 2023-24.
https://lao.ca.gov/LAOEconTax/Article/Detail/795

Recent Revenues Coming in Below Governor's Budget Projections [EconTax Blog]

Jan 22, 2024 - Individuals with substantial capital gains and other non-wage income make quarterly estimated tax payments to meet state tax requirements. As shown in the figure  below, January estimated tax payments from these taxpayers are running well below targets needed to meet the Governor 's budget revenue levels for 2023-24.
https://lao.ca.gov/LAOEconTax/article/Detail/795

The 2024-25 Budget: Department of Health Care Access and Information

Feb 27, 2024 - MCO Tax Package Augmented Support for Hospital Relief Programs. As noted in the “Health Care Workforce Proposals ” section of this post, last year ’s budget enacted a multiyear plan for the MCO tax. As part of this plan, the Legislature designated $200  million one-time MCO tax funds for HCAI hospital relief programs in 2023 ‑24.
https://lao.ca.gov/Publications/Report/4860

The 2024-25 Budget: Proposition 98 and K-12 Education

Feb 15, 2024 - Beginning in 2022 ‑23, the budget included provisional language requiring DOF to augment the appropriation for school nutrition if expenditures are projected to exceed the amount available. CDE is to report to the administration and Legislature on or before January 20 whether the amount included in the budget is sufficient to address these costs.
https://lao.ca.gov/Publications/Report/4839

The 2024-25 Budget: Medi-Cal Analysis [Publication Details]

Feb 14, 2024 - The 2024-25 Budget: Medi-Cal Analysis [Publication Details] Description: This brief provides an overview of the Governor’s proposed budget for Medi-Cal; describes key trends in Medi-Cal caseload; and analyzes proposals around the managed care organization tax, provider payment increases, and other budget solutions.
https://lao.ca.gov/Publications/Detail/4838

The 2024-25 Budget: Medi-Cal Analysis

Feb 14, 2024 - As we noted in the “MCO Tax Budget Solution ” section of this report, there is an expected, though not certain, shortfall in the proposed MCO tax package, estimated by the administration to begin mid ‑2028.
https://lao.ca.gov/Publications/Report/4838

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

Dec 14, 2023 - U.S. retail sales have grown 0.9 percent over the last 3 months and 4.1 percent over the last 12 months. Both of these growth rates outpaced inflation.
https://lao.ca.gov/LAOEconTax/Article/Detail/791