LAO – Page 4 – California Globe

Legislative Analyst Reports: California Facing $58 Billion Budget Deficit Over Next Few Years

December 1, 2023 10:39 pmDecember 1, 2023 10:39 pm

According to a new report released by the Legislative Analyst’s Office (LAO) on Friday, California will likely face a budget deficit of $58 billion over the next few years, with massive spending cuts likely to come because of less than...

Union Strikes on the Backs of California Taxpayers

September 14, 2023 3:24 pmSeptember 14, 2023 3:24 pm

If unions are not covering their members on strike, then maybe Californians need to ask themselves, “where is that money going?” Union work, the long protected method of employment from the “evil corporate empires.” Depending on your experience, you may...

The Pandemic Wiped Out 3 Million Jobs in California

July 16, 2023 10:01 amJuly 16, 2023 10:02 am

The pandemic wiped out 3 million jobs in California. Then why did the Employment Development Department send out 9 million unemployment benefit debit cards? Since almost all of the cards were sent out in the first 10 months of the...

BREAKING: California EDD ‘Structurally Insolvent’

July 8, 2023 8:26 amJuly 8, 2023 8:44 am

The Unemployment Insurance (UI) trust fund the California Employment Development Department uses to pay benefits is now “structurally insolvent” a new Legislative Analyst’s Office report states. The report – a reaction to the “May Fund Forecast” released by the EDD...

Legislative Analyst Warns California Can’t Afford Gov. Newsom’s 2023-24 Budget

May 24, 2023 12:42 pmMay 24, 2023 12:42 pm

The Legislative Analyst’s Office (LAO), the California Legislature’s nonpartisan fiscal and policy advisor, announced on Tuesday that the state would unlikely be able to afford the May revisions to the 2023-2024 budget as proposed by Governor Gavin Newsom, and that...

AB 52: Manufacturing Equipment Tax Credit

March 18, 2023 8:08 amMarch 18, 2023 8:12 am

Assembly Bill 52 by Assemblyman Tim Grayson (D-Concord) was amended to provide a manufacturing equipment purchase tax credit. The bill would add and repeal Sections 17053.90 and 23623 of the Revenue and Taxation Code. Section 1 of the bill contains three legislative...

California Facing $25 Billion Budget Shortfall Next Year

November 16, 2022 4:46 pmNovember 17, 2022 8:19 pm

A Legislative Analyst’s Office report released on Wednesday found that California revenue is $41 billion below expectations, likely resulting in a massive $25 billion shortfall in the upcoming 2023-2024 state budget. The LAO recommends lawmakers start cutting the budget when...