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Thursday, January 08, 2015

Board Approves O'Malley Budget Cuts, Transfers

A Maryland board has approved a plan to address about $410 million of a budget shortfall for the current fiscal year to better position the state to tackle a deficit in the next fiscal year.

The Board of Public Works voted 3-0 Wednesday for the plan.

It includes about $206 million in cuts. Another $108 million will come from spending transfers. There also are some savings from early retirement offerings and cutting vacant positions.

The cuts include a 2-percent reduction across state agencies. There are about $18 million in reductions to higher education.

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