Fiscal cliff discussed by top Md. officials

The presiding officers of Maryland's Legislature say they need to see how negotiations on the "fiscal cliff" in Washington play out before making definitive budget plans for the state's upcoming legislative session.

 

Senate President Thomas V. Mike Miller and House Speaker Michael Busch met with Gov. Martin O'Malley on Thursday in Annapolis.

 

Miller, D-Calvert, says they need to see how the outcome will affect Maryland before moving forward on major financing initiatives.

 

Busch, D-Anne Arundel, noted that between 50,000 and 90,000 jobs could be lost in Maryland, if Washington goes over the cliff. The fiscal cliff refers to across-the-board spending cuts and tax increases, if an agreement isn't reached.

 

Maryland's proximity to the nation's capital makes it more susceptible to job losses from federal cuts than most other states.