WASHINGTON — The federal government started the 2013 budget year with a $120 billion deficit in October, an indication that the nation is on a path to its fifth straight $1 trillion-plus annual deficit. A soaring deficit puts added pressure ...

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WASHINGTON — President Barack Obama’s health care overhaul will reduce rather than increase the nation’s huge federal deficits over the next decade, Congress’ nonpartisan budget scorekeepers said Tuesday, supporting Obama’s contention in a major election-year dispute with Republicans. Republicans have ...

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NEW YORK — A new survey shows economists are growing slightly more optimistic about recovery in the job and housing markets but expect other pillars of the economy to remain weak. The National Association for Business Economists says in a ...

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ANNAPOLIS — A panel of Maryland lawmakers reached agreement Monday night on a package of budget measures that include an income tax increase on residents who make more than $100,000, as the General Assembly neared adjournment in an unusually chaotic ...

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ANNAPOLIS — A leading Senate budget negotiator expressed frustration Monday that House conferees were not meeting senators halfway in last-minute budget talks. But the House speaker suggested the Senate had slowing up budget work by focusing so much on passing ...

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ANNAPOLIS — With time running short, a panel of Maryland lawmakers made progress on Saturday on proposals to raise income taxes for people who make more than $100,000. As lawmakers aim to balance the books for the next fiscal year ...

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ANNAPOLIS — The House Appropriations Committee is working on Maryland budget legislation. To start a long day of budget labors on Friday, Delegate Norman Conway, D-Wicomico, announced that a proposal to split teacher pensions between the state and local governments ...

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The Senate Budget and Taxation Committee will vote Thursday afternoon on a budget bill to send to the chamber floor. Senate subcommittees are slated to report to the committee at 1 p.m. Thursday, followed by a full committee vote that ...

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ANNAPOLIS — A Senate committee will begin making decisions about adjustments to Gov. Martin O’Malley’s proposed budget legislation. The Senate Budget and Taxation Committee will meet Thursday afternoon to consider recommendations by the panel’s subcommittees. One subcommittee decided to shave ...

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ANNAPOLIS — Senate President Thomas V. Mike Miller says senators are exploring a bill that proposes to repeal a Maryland tax cut approved in 1997 to help balance the budget. Miller, D-Calvert, told reporters on Thursday that a bill sponsored ...

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