MD Panel Votes On Spending Recommendations - WMDT 47 News - Delmarva's Choice

MD Panel Votes On Spending Recommendations

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ANNAPOLIS, Md. - A panel of Maryland lawmakers is recommending Gov. Martin O'Malley cut the state's ongoing projected budget deficit of $382 million by more than half in the next fiscal year.
    
The state's Spending Affordability Committee on Thursday also voted to allow the state to increase capital debt limit by $150 million for the next fiscal year.
    
Maryland is required to have a balanced budget each fiscal year. However, projected spending for future years has exceeded revenues in recent years in what's known as a structural budget deficit.
    
Democratic supporters of the recommendation note the state will have nearly addressed a $2 billion budget deficit since 2010. Republicans questioned why the panel didn't recommend eliminating the structural deficit. Democrats say that would have presented some difficulties in education funding.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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