'Fiscal cliff' Clouds Budget Process In MD - 47 ABC - Delmarva's Choice

'Fiscal cliff' Clouds Budget Process In MD

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ANNAPOLIS, Md. (AP) - Maryland's revenue projections are better than they've been in years. The state is on the verge of wiping out what was once a $2 billion budget deficit through cuts and tax increases. Maryland is on track to reap financial benefits in future years from full-fledged casino gambling.
    
Enter the fiscal cliff.
    
Negotiations in Washington on how to avoid across-the-board spending cuts and tax increases have clouded the financial future of a state that is highly susceptible to federal cuts.
    
The uncertainty has presented unusual difficulties in piecing together a budget for the next fiscal year when lawmakers convene for their annual 90-day session in January. It's also getting in the way of plans to shore up transportation funding, an area of huge concern in traffic-congested Maryland.

 

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 This material may not be published, broadcast, rewritten or redistributed.)

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