L.A. City Budget Shortfall Reaches Nearly $1 Billion
City Administrative Officer Matt Szabo announced that next year’s budget will face a nearly $1 billion shortfall. Key contributors include rising costs related to liability payments, personnel, and wildfire expenses. Mayor Bass shared that her budget proposal for next year will reduce the gap but also will bring fundamental changes to city operations. Chief Administrative Officer Szabo advised City Council to focus on cost-cutting measures, including a potential reduction in the size of the workforce, to bring the budget into balance.
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Chamber Leads Discussion on Tariffs and Trade
This week, the Chamber hosted an event led by Nicole Simonian, Partner at Crowell & Moring, and Brian Peck, Executive Director of the Center for Transnational Law & Business at USC, on how companies can prepare for and mitigate the effects of tariffs and trade regulations, which will impact supply chains and the cost of doing business. The discussion emphasized the potential impacts of reciprocal tariffs, as Los Angeles prepares to rebuild post recent wildfires. Read our recent statement on the tariffs.
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ACCESS Sacramento: Advocating for a Stronger, More Competitive Region
After successfully completing an impactful delegation trip to Washington D.C., the Los Angeles Area Chamber of Commerce is continuing its momentum, and is heading to Sacramento on April 22 for ACCESS Sacramento. Join us for an informative delegation trip to our state capital to advocate for policies to strengthen the regional economy, drive job creation, and secure support for wildfire rebuilding in Los Angeles. Engage with key policymakers and help us build a thriving region for all. Register today!
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California to Borrow State Funds for Medicaid
The State of California plans to borrow $3.44 billion to cover Medi-Cal expenses. Rising medical costs, including higher pharmacy expenses and an influx of senior enrollments, have contributed to this need. The state expects to spend $42 billion on health coverage in 2025-2026. The Chamber will continue to monitor the state budget and track Governor Gavin Newsom's proposed changes.
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City Council Approves Budget Process Changes
The Los Angeles City Council voted unanimously to explore a two-year budget cycle. This move aims to address fiscal concerns, improve long-term planning, and enhance public participation. During the city’s Budget and Finance Committee, Councilmembers received updates on the budget, with the Controller sharing fiscal challenges and the Chief Administrative Officer providing key insights in the Financial Status Report. Benefits of transitioning to a two-year budget cycle could free up city resources to address policy gaps and better support business needs.
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California and Sonora Work to Strengthen Clean Energy Collaboration
Governor Gavin Newsom and Sonora, Mexico Governor Alfonso Durazo Montaño agreed to enhance clean energy collaboration. Signed by California Energy Commission Chair David Hochschild and Dr. Francisco Acuña Méndez, Chief of Staff to Governor Durazo, the MOU targets renewable energy, energy efficiency, electric mobility, and clean hydrogen. Governor Durazo highlighted Sonora’s potential as a clean energy hub, with investments in electric vehicle and semiconductor manufacturing aimed at strengthening energy systems and improving supply chain resilience. Read more here.
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OneLA Procurement Accelerator Program: Certification & Contract Training
Applications are open for Cohort III of the EMI OneLA Procurement Accelerator: Certification & Contract Training Program! This program helps small businesses become certified and prepares them to compete for government and corporate contracts. Don’t miss out on this opportunity to grow your business through procurement. For more information visit here.
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Federal Assistance for L.A. Fire: Deadline Extension March 31, 2025
The deadline to apply for FEMA Individual Assistance and SBA support has been extended to Monday, March 31. Homeowners and renters in Los Angeles County impacted by the recent wildfires may qualify for financial assistance and recovery resources. Don’t miss out—submit your application before the new deadline. Apply here.
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Department of Financial Protection & Innovation: Disaster Declaration Search
If you live in a federally declared disaster area and have experienced damage to your home or business, you may qualify for a disaster assistance loan through the U.S. Small Business Administration (SBA) of up to $500,000 to repair or replace your primary residence. Enter your county to check available assistance here.
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Assessor's Disaster Relief Resource Fair
L.A. County Assessor Jeff Prang will host a Disaster Relief Resource Fair in Duarte on March 22. This event offers property owners affected by the Eaton and Palisades Fires the chance to receive updates on property tax relief. Attendees can ask questions and connect with subject matter experts and community partners. Register here.
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Celebrating Women's History Month: Whitney O’Neill Englander, Charter
As Vice President of State Government Affairs for the Western Region at Charter Communications (Spectrum), Whitney leads two teams and oversees legislative strategies at the state and municipal levels across four states, including Charter’s largest service area in Los Angeles. She also serves on the Chamber Board of Directors, and chairs the Chamber's Innovation & Technology Council.
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COUNCIL MEETINGS & EVENTS
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World Trade Week
Thursday, May 1, 8:00 a.m.
Join us for the 99th World Trade Week: A New Horizon - Reimagining Trade with Innovation. World Trade Week has been dedicated to educating the public about the vital role and benefits of global trade in local, state, and national economies.
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Los Angeles Area Chamber of Commerce
350 S. Bixel Street
Los Angeles, CA 90017
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