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Md. House takes up state budget

Associated Press//March 13, 2013

Md. House takes up state budget

By Associated Press

//March 13, 2013

ANNAPOLIS — The Maryland House of Delegates is taking up the state budget, which is nearly $37 billion.

The House will be considering tweaks to the governor’s budget for the next fiscal year on Wednesday.

Overall, the budget is not feeling the pressures it has in recent years in the aftermath of the recession. But uncertainty about how automatic federal cuts will play out due to a budget impasse in Washington has prompted the Democratic governor to increase the state’s Rainy Day Fund from 5 percent to 6 percent of the state’s $16 billion general fund.

Combined with about $200 million in general fund balance, the state has about $1.1 billion in cash and reserves.

The House is working on the budget first. The Senate will take it up later this session.

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