Severance Tax Cut Out of Kasich Budget Proposal by Ohio House Republicans
From Columbus Business First:
Leaders in the GOP-controlled House on Tuesday outlined how they are dumping Kasich’s bid to expand Medicaid coverage to an additional 275,000 Ohioans. They also are removing his plan to broaden the state sales tax base, axing his proposal to raise severance taxes on oil and natural gas drilling operations, and replacing Kasich’s 50 percent income tax reduction for small-business owners with a 7 percent income tax cut for all wage earners.
Republican leaders are rolling out the amended budget plan to be reviewed by the House Finance and Appropriations Committee. The full House is expected to vote on the budget bill April 18, and the Senate will weigh in after that. Both houses must sign off on a balanced budget plan before July 1.