SAN FRANCISCO — Los Angeles was making progress reducing its budget deficit before a political standoff derailed a planned electricity rate increase, a new report from the office of the city administrative officer says.

The nation’s second-biggest city reduced its projected general fund budget deficit for the current fiscal year by 30% to $149 million, according to a financial status report released by the CAO’s office Friday afternoon. The projected deficit is down from $211.7 million as of Feb. 9.

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