As the City of Los Angeles proposes mass layoffs to close a nearly $1 billion deficit for the coming fiscal year, city officials warn Mayor Karen Bass’s “balanced” budget proposal may not sufficiently account for slowing revenue, a possible recession, expiration of labor agreements and the city’s credit rating downgrade.
“Economic policies from the Federal Government, coupled with disruptive cuts in Federal programs and spending, are likely to create significant issues for revenues and have the potential to cause greater economic harm, including potential recession. Despite this, the CAO’s four-year outlook optimistically assumes average revenue growth in 2026-27 and beyond, and projects a surplus of $13.1M in 2026-27 that grows to $454.4M in 2029-30,” wrote Los Angeles Chief Legislative Analyst Sharon M. Tso.
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Author: Dillon B
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