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The 2026-27 Budget: Sales Tax on Prewritten Software May 16, 2026
The Governor proposes extending the state’s sales tax to sales of prewritten software broadly, no matter how the software is delivered. We see merit in the general idea of modernizing the state’s sales tax and eliminating some of the arbitrary distinctions between taxed and untaxed sales. If the Legislature wants to address these issues, we recommend that it consider extending the sales tax to a broader set of digital products, not just software. We also recommend that the Legislature consider exemptions or reduced rates for software purchased by businesses.
California New Car Registrations: September 2025 November 14, 2025
Registrations Flat in September. Following three straight months of substantial growth, seasonally adjusted new car registrations grew just 0.1 percent in September. This is 3 percent lower than recent peaks in December and April but somewhat higher than the average level over the last couple of years.
U.S. Retail Sales Update: October 2024 November 15, 2024
U.S. retail sales have grown 1.1 percent over the last 3 months and 2.8 percent over the last 12 months. Retail sales growth has outpaced inflation substantially over the last 3 months, but only slightly over the last 12 months.
U.S. Retail Sales Update: September 2024 October 17, 2024
U.S. retail sales have grown 1.7 percent over the last 3 months and also 1.7 percent over the last 12 months. Retail sales growth has outpaced inflation over the last 3 months, but not over the last 12 months.
U.S. Retail Sales Update: August 2024 September 17, 2024
U.S. retail sales have grown 0.9 percent over the last 3 months and 2.1 percent over the last 12 months. Retail sales growth has outpaced inflation over the last 3 months, but not over the last 12 months.
U.S. Retail Sales Update: July 2024 August 16, 2024
U.S. retail sales have grown 1 percent over the last 3 months and 2.7 percent over the last 12 months. Retail sales growth has outpaced inflation over the last 3 months, but not over the last 12 months.
U.S. Retail Sales Update: June 2024 July 16, 2024
U.S. retail sales have grown 0.1 percent over the last 3 months and 2.3 percent over the last 12 months. Over both periods, sales have grown more slowly than inflation.
U.S. Retail Sales Update: May 2024 June 18, 2024
U.S. retail sales have grown 0.4 percent over the last 3 months and 2.3 percent over the last 12 months. Over both periods, sales have grown more slowly than inflation.
U.S. Retail Sales Update: March 2024 April 15, 2024
U.S. retail sales have grown 0.8 percent over the last 3 months and 4 percent over the last 12 months. Retail sales growth has outpaced inflation over the last 12 months, but not over the last 3 months.
U.S. Retail Sales Update: February 2024 March 14, 2024
U.S. retail sales have dropped 0.4 percent over the last 3 months and grown 1.5 percent over the last 12 months. The 12-month growth rate was below the rate of inflation.
U.S. Retail Sales Update: January 2024 February 15, 2024
U.S. retail sales have dropped 0.5 percent over the last 3 months and grown 0.6 percent over the last 12 months. The 12-month growth rate was well below the rate of inflation.
U.S. Retail Sales Update: December 2023 January 17, 2024
U.S. retail sales have grown 0.7 percent over the last 3 months and 5.6 percent over the last 12 months. Both of these growth rates outpaced inflation.
U.S. Retail Sales Update: November 2023 December 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.
U.S. Retail Sales Update: October 2023 November 15, 2023
U.S. retail sales have grown 1.5 percent over the last 3 months and 2.5 percent over the last 12 months. Retail sales growth has outpaced inflation over the last 3 months, but not over the last 12 months.
U.S. Retail Sales Update: September 2023 October 17, 2023
U.S. retail sales have grown 2.1 percent over the last 3 months and 3.8 percent over the last 12 months. Retail sales growth has well outpaced inflation over the last 3 months, but not over the last 12 months.