Republicans in the General Assembly praised Gov. John Kasich’s mid-biennium review proposals Tuesday as bold and ambitious, but the governor’s toughest job to get the tax reforms he wants may be convincing those same Republicans to support it.
The scene is reminiscent of 2013 when the governor floatedan ambitious overhaul in the state's tax structure to pay for income tax reductions.While the governor may not get all he's asked for this year, many expect that, like last year, there will be some compromise that leads to a lower income tax rate -- something Capitol Square insiders chalk up, in part, to the governor’s persistence.
Kasich proposed cutting income tax rates across all brackets by 8.5 percent and to increase amounts for the earned income tax credit and the amount middle- and lower- incomes can claim for individual exemptions.
Read the whole article here.The tax relief and rate reductions are expected to total more than $2.6 billion over three years. The trick is finding a way to pay for it.
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