Ohio Senate Set To Reveal Budget Proposal
With the deadline to sign a new two-year budget a little over two weeks away, Ohio's state senators are releasing their proposal for that spending plan Tuesday. There are likely to be some changes from the $69 billion proposal that overwhelmingly passed the Ohio House last month.
The Ohio House budget eliminated state income taxes for anyone making under $22,000 a year and cut them for everyone else by 6.6%.
Republican Senators said they wanted an income tax cut, but some are concerned about the House’s decision to drop the $250,000 small business income tax deduction down to $100,000.
Senate Finance chair Matt Dolan called that a tax increase, and Gov. Mike DeWine said he wanted it restored.
Some Senators also don't like the elimination of the $40 million film tax credit. Dolan said he wanted to look at all the breaks that were cut, including one for fractional jet ownership, race car teams and investment in gold coins and bullion.
Senators are also looking at the $675 million in the House budget for wraparound services for schools, and the doubling of the money DeWine put into foster care and children services. Ohio has been at the bottom of the national list of state funding for public children services.
Ohio has seen tax revenues exceed estimates so far this fiscal year, giving lawmakers more leeway with spending in the budget.
The House budget passed 85-9, with seven Republicans and two Democrats voting against it. The Senate is dominated two-to-one by Republicans. The completed budget must be signed by the governor by June 30.