The Ohio House Finance Committee today adopted their version of the Ohio Budget. Most notably, the House rejected Governor Kasich’s call to shift taxes by $3 billion. With growing questions about revenue shortfalls and the effectiveness of income tax cuts, this signals an opportunity to begin a new conversation about tax policy.
The House also proposed more investment into addressing the opiate epidemic ($170 million) and k-12 education ($90 million). The proposal will also flat fund higher education (compared to a 1% increase originally proposed by the Governor), and will likely result in higher tuition on students and families.
The House Finance Committee will take time this week to receive more public testimony, make final amendments, and pass a version of the budget the first week of May. A vote from the full House will follow.
The Ohio Senate will have a few weeks to review, modify, and pass their recommendation of the budget prior to conference committee that will begin in June. The Conference Committee and each chamber must finish their work by June 30th for the Governor’s signature.