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Monday, April 20, 2015

Kasich Severance Tax Proposal is Dead For Now

Ding dong, the tax is dead
Severance tax opponents get their wish
From Cleveland.com:
Any tax increase on oil and gas fracking activity in Ohio is dead for now after lawmakers stripped a proposed tax hike from the state's budget bill, a key Ohio House member said Wednesday.

On Tuesday, lawmakers removed a budget proposal by Gov. John Kasich to raise the state severance tax on horizontal drilling to pay for income-tax cuts
There are currently no other plans to advance any other bill to change the state's severance tax, said state Rep. Ryan Smith, a Gallia County Republican who chairs the House Finance Committee. 
"There's a lot of slowdown in that industry right now, and we don't want to pile on," Smith said in an interview, echoing concerns raised by oil and gas officials about plummeting energy prices.
The Protect Ohio Jobs Coalition was happy about the decision, and followed the news with a press release:
The Protect Ohio Jobs Coalition today applauded Ohio House legislative leaders for the removal of the oil and gas severance increase from the state budget. The group issued the following statement: 
“Ohio House leaders made the right decision for Ohio’s economic future. Imposing a drastic tax increase on energy production would threaten Ohio jobs and investment and could drive up energy costs for families and businesses in our County and the rest of Ohio said Monroe County Commissioner Mick Schumacher.” 
“We urge the Ohio Senate to join the Ohio House in opposition to this job-killing tax increase on energy production in our state said Charlotte Keim, President and CEO of the Marietta Area Chamber of Commerce .” 
The Protect Ohio Jobs Coalition is dedicated to ensuring tax policies do not stop the growth of Ohio’s oil and natural gas industry, the Ohio businesses that support it and the Ohio jobs it creates in related industries.

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