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Committee Reviewing Mayor Bass’ $12.8B Budget for 2024-25

A City Council committee Wednesday will continue discussing Los Angeles Mayor Karen Bass’ proposed $12.8 billion budget for fiscal year 2024-25, which is meant to help ensure fiscal stability through 2029.

The five-member Budget, Innovation and Finance Committee will hear from commissioners and staff members regarding the city’s employees’ retirement system, fire and police pensions, and the Port of Los Angeles. Additionally, the committee is expected to take public comment from residents about the spending plan — the only day they’ve scheduled to do so.

On Tuesday, the committee heard from high-ranking city officials, who echoed Bass’ message that the proposed budget will serve as a “reset” for the city. They said it would guide the city toward financial stability amid a lower-than-projected revenue outlook, new labor contract costs and other concerns in the coming years.