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May 29 2013

Senate budget changes include misguided business tax cut proposal

After weeks of deliberation, the Senate Finance Committee accepted the newest version of the state budget, on Monday. Highlights included:
  • Senate Republicans decided to swap the 7 percent income tax cut that House Republicans had inserted for Gov. Kasich’s original small business tax exclusions;
  • Gov. Kasich’s Medicaid expansion was not included but Republican leaders said standalone legislation could be introduced soon;
  • Republicans punted on changes to the school funding formula and plan to introduced their recommendations as an amendment to the bill next week; [Read more…]

Written by bpeyton · Categorized: Ohio State Budget, Taxation · Tagged: Ohio Budget, Small Business Tax Cut, Taxes

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