In The Sun Today: O'Malley works to balance budget again
As state revenues have taken a nose dive along with the economy, Gov. Martin O'Malley has been forced repeatedly to find ways to keep the state operating budget in balance. He brought more than $360 million in budget measures on Wednesday to the Board of Public Works, which approved them.
Among the measures, the governor accounted for a $130 million corporate tax windfall to the state from Constellation Energy Group's deal to sell half its nuclear power business to Electricite de France, a French utility. Another $230 million in savings are achieved through budget cuts and fund transfers to the budget from other pots of money.
The actions bring midyear spending reductions and fund transfers to about $1 billion in the fiscal year that began in July. The three-member board is composed of O'Malley, Treasurer Nancy K. Kopp and Comptroller Peter Franchot. All three are Democrats.
For a full story in The Sun, click here.
For a list of actions taken, click here.
For the administration's presentation, click here.