ANNAPOLIS, Md. - A Wells Fargo report says Maryland, Virginia and the District of Columbia are the most vulnerable to looming and widespread federal budget cuts.
The report released Monday examines states that would feel the most pain from $85 billion in cuts that are set to automatically start taking effect March 1 without a bipartisan deal.
The report says the District of Columbia, along with neighboring suburbs in northern Virginia and suburban Maryland are particularly vulnerable to cuts in defense. That's because of the multitude of defense agencies and contractors in the region.
While nondefense cuts will be spread out more across the country, the report notes that the Washington, D.C., area is once again the most vulnerable to those reductions. Federal cuts could affect everything from biomedical research to homeland security.
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