https://www.siliconvalley.com/2023/11/01/california-slashes-state-tax-revenue-outlook-ahead-of-bond-sales/

California is poised to fall well short of its budget forecasts as the recent stock market slump erodes the state’s tax revenue.

As of Oct. 25, a total of nearly $18 billion was collected so far this month — significantly lower than the $42 billion of collections that were previously projected for all of October — according to an update from the state’s Department of Finance late Friday. The shortfall comes as the state prepares to close out its seasonal autumn sale period for state-issued municipal bonds.