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Tuesday, June 9, 2015

Governor Kasich Confident That Agreement Will Be Reached to Increase Severance Tax

From Columbus Business First:
Ohio Gov. John Kasich said there's been little movement on passing a new oil and gas severance tax, but he's optimistic he'll reach an agreement with the dug-in industry.

In an interview with syndicated radio host Hugh Hewitt, Kasich said there's been "virtually no progress" on a tax, which would increase what Utica shale producers pay for drilling. Much of the tax would go toward funding the governor's proposed income-tax cut.

Kasich tried to demur the host's questions –"I can't talk about this, Hugh, because if I do, I could blow this thing up," he said. But he allowed that movement on the tax is happening.

"I’m not only for reducing taxes when you reduce government, but I’m also for creating a tax system that encourages risk taking and investment, and not one that encourages consumption," he said. "And so that’s part of our effort to try to get our income tax down."
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