Changes to Assembly Budget Committee today, per Speaker Robert Rivas.

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#CABudget: 1/15 is a big tax payment date--for high-income filers' 4th quarter 2025 obligations. FTB booked $4.6 bil. today related to the Jan. 15 deadline, with more likely next week. These levels are similar to totals in Jan. 2021 & 2022. Promising for exceeding recent administration estimates.

wahoo wa

Previously budgeted local homelessness funds continue to flow but always have been budgeted on a one time basis, meaning there is no assurance of future added funding. The Governor and the Legislature have tightened rules in recent years, with more tightening expected if more funds are provided.

Previously budgeted local homelessness funds continue to flow but always have been budgeted on a one time basis, meaning there is no assurance of future added funding. The Governor and the Legislature have tightened rules in recent years, with more tightening expected if more funds are provided.

Holy hell, what an obituary

January 15 is a major #CABudget personal income tax collection date - this year, for 4th quarter 2025 tax payments, principally of higher-income people. Last year, on January 14, California FTB collected $601 million, perhaps depressed due to the recent fires. Today, FTB collected $1.27 billion.

Governor Newsom has denied Louisiana’s request to extradite a Healdsburg physician for providing reproductive healthcare services. I full support this decision.

Honored to be asked to discuss the history of the Olympic Winter Games with Team USA speed skating legend Bonnie Blair and fellow Olympic historians on January 20. Thanks to the US Olympic and Paralympic Museum and ISOH for inviting me. For details visit USOPM.org/GamesHistoryHour

Some states are losing well over $100 million per year just to give tax breaks to data centers.

With 912 days remaining until the Olympic Opening Ceremony, registration for the LA28 Ticket Draw opened today, marking a key milestone on the road to 2028. Visit la28.org (la28.org) for updates or register directly at tickets.la28.org as we prepare to host the 2028 Olympic and Paralympic Games.

Hey you! Yeah you! Come work with me! We're looking for someone with a strong understanding of social media, especially video platforms like TikTok and YouTube Shorts, to join our team and bring the fight against the AI Slop Machine. This is a good union job! Apply! calaborfed.org/wp-content/u...

The IRS may have avoided the worst-case scenario of cuts to its annual funding from Congress, but the agency’s billion-dollar hit to its budget is still a troubling development, according to tax watchers. Read more: https://taxnotes.co/3LKPT31

Bus math update for 2028! At tomorrow's Metro meeting, the board will revise the estimated number of extra buses needed from 2,700 buses to 1,747 — *and* of those 1,747 buses, over half have been secured. A lot of agencies across the country are sending us their old CNG buses (thanks CATA!)

CBPP's Samantha Jacoby on the announced Senate agreement to cut $1B from the IRS discretionary budget (via X): x.com/jacsamoby/st...

The California Legislative Analyst's Office has released its initial overview of the Governor's January #CABudget proposal. lao.ca.gov/Publications...

One fourth of the US Olympic figure skating team is Californian. www.usatoday.com/story/sports...

Revenue estimates are not crystal balls. Forecasts differ because they rely on different assumptions, especially amid shifts in federal policy and economic conditions. California’s fiscal picture could change substantially by June, when the 2026–27 budget is finalized.

The California Constitution requires #CALeg budget chairs to introduce the Governor's proposed #CABudget bill immediately each January. The Governor's proposed budget bill is online: SB 879 and AB 1563. leginfo.legislature.ca.gov/faces/billNa...

Recent #CABudget tax collections have trended well above prior projections, as I have discussed recently. Budget hearings will consider administration projections between now and June. Stock/tech industry downturns and tax avoidance actions by high-income taxpayers are forecast risks.

#CABudget documents available today. jasonsisney.substack.com/p/jan-9-docu...

Now online: Assembly Budget Committee overview of Governor's January budget proposal, including summary at beginning. abgt.assembly.ca.gov/system/files... #CABudget

(2/2) He uplifted the #CalEITC, YCTC, and FYTC, and said of affordability: “It’s not a word we just discovered and is certainly not a hoax.” Bottom line: California’s economy is growing, with $$42.3 billion (over the three year budget window) more in revenue than forecast.

California has proudly built one of the most progressive income tax systems in the nation.

In today's State of the State address, @governor.ca.gov says his proposed 2026-27 #CABudget includes $42.3 billion *more* in state General Fund revenue (over the 3-year "budget window") than was estimated last June when the 2025-26 budget was adopted. #CALeg

Responding to questions: of the roughly $12b revenue gain we have seen since April, $1.9b results from federal cost recoveries. That gain may not persist, but the rest principally comes from traditional tax sources, with personal income taxes alone up around $10b. Sales taxes are ~2% below forecast.

Q&A on deficits, surpluses and the Constitution: on California's balanced budget requirements. #CABudget open.substack.com/pub/jasonsis...

America is also losing jobs in the homebuilding sector as the number of units under construction rapidly drops, leading to a massive slowdown in overall construction employment growth. The US has added only 52k construction jobs over the last year compared to 191k the year prior.

#CABudget: 1. Expect deficit estimate to differ from LAO's. 2. Revenue trend well ahead of LAO estimates so far in 25-26. 3. Expenditure & reserve estimates can vary by billions, up or down. 4. Revenue trend can change in coming months. 5. 26-27 budget in June will be balanced per Constitution.

A heck of a chart: in every single one of the 10 major US cities that built the most housing between 2017 and 2023, rents for older, existing units fell—often by quite a bit.

December income taxes well above projections: preliminary tax agency data subject to revision. #CABudget open.substack.com/pub/jasonsis...

The 2026 California state budget process lies ahead. Let's get ready to begin... open.substack.com/pub/jasonsis... #CABudget

Thrilled to join five-time gold medalist Bonnie Blair and fellow Olympic & Paralympic historians to discuss the evolution of the Winter Games just ahead of the 2026 Games in Italy, starting in February. Thanks to the U.S. Olympic & Paralympic Museum & ISOH for inviting me. usopm.org/event/games-...

The California State Assembly Budget Committee has a job posting for a senior consultant covering higher education. Posting: www.assembly.ca.gov/system/files...

California won’t solve its housing crisis unless we reduce construction costs. Our new Select Committee on Housing Construction Innovation will explore the tools and technologies that can help us build more homes, faster and more affordably. 🔗 Press release: a14.asmdc.org/press-releas...

Likely not sustainable. "The report notes that in the first half of this year, nearly 70% of all U.S. venture capital spending came to California, while in the third quarter seven of the top 10 investments nationwide were here." www.latimes.com/business/sto...

LAO fiscal outlook for California state budget online at lao.ca.gov. Much more to discuss in coming months. #CABudget

The LAO fiscal outlook page now includes specific writeups on Proposition 98 (TK-14) and Medi-Cal #CABudget issues.

The LAO has released a conservative edition of its annual fiscal outlook. Many thanks to the staff for this product. More to discuss in coming weeks. www.lao.ca.gov/Budget?year=... #CABudget

Revenues strong. LAO fiscal outlook expected soon. #CABudget open.substack.com/pub/jasonsis...

October income taxes $2 billion above target. LAO's first surplus/deficit projection for 2026 budget expected later this month. open.substack.com/pub/jasonsis... #CABudget

This is a great day for every Californian and for every American who believes our democracy is worth defending. Donald Trump tried to rig the rules. California just told him: not now, not ever. #Yeson50 #California #CALeg