Maryland General Assembly passes $38.7B budget

Question of the Day

Should Congress make English the official language of the U.S.?

View results

ANNAPOLIS, Md. (AP) - The Maryland General Assembly has given final approval to the state’s $38.7 billion budget.

The Senate and House voted Saturday to agree to some fine-tuning that was done by a panel of House and Senate lawmakers. They worked out some differences in the budget between the two chambers.

Maryland lawmakers avoided deep cuts this year after a drop in estimated revenues, largely by tapping $200 million originally set aside to strengthen the finances of the state’s pension system.

In 2011, lawmakers agreed to pay $300 million above its required annual pension payment to shore up unfunded liabilities in the pension system. Lawmakers plan to gradually restore the full $300 million over several years.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Comments
blog comments powered by Disqus
TWT Video Picks