Ohio report On Fracking Tax Misses Deadline, Work Continues
A group studying Ohio's oil-and-gas severance tax will miss a state budget-imposed deadline for releasing its report even after the state Senate president initially called it a "hard deadline" and told reporters it was likely coming this week.
Ohio Senate spokesman John Fortney said Thursday that work continues on the report and the group is making progress. He didn't know when a report would come, but cited a desire to "get this right."
The tax increase has been a priority of Gov. John Kasich for years. Kasich says Ohio's tax on oil, natural gas and natural gas liquids is too low, and proceeds of an increase could help cut income taxes.
In June, Senate President Keith Faber described Oct. 1 as a "hard deadline" for striking "meaningful compromise."