'Fiscal Cliff' Clouds Budget Process in Md. - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

'Fiscal Cliff' Clouds Budget Process in Md.

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(Photo: MGN) (Photo: MGN)

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 is also getting in the way of plans to shore up transportation funding, an area of huge concern in traffic-congested Maryland.

 

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