O'Malley cuts $364 million, 112 jobs from state budget

Maryland Gov. Martin O’Malley slashed more than $360 million and 112 jobs from the state’s budget Wednesday in the third round of midyear budget cuts.

The governor has cut $1.1 billion from the state’s budget since this summer in response to declining revenue. Maryland is facing an estimated $2 billion budget deficit during the next fiscal year, which will start in July.