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SENATE BUDGET RELEASED


BREAKING NEWS-01

Background: In February, the Governor proposed a massive tax shift that would have raised nearly $5 billion in new revenue to pay for a $5.5 billion tax cut. This plan would have raised taxes on low and middle income Ohioans to pay for a tax cut for the wealthiest.

In April, the House rejected that plan and passed a 6.3% income tax cut – instead of investing to reduce tuition, provide more affordable housing, or fix Ohio’s crumbling infrastructure. We could do a lot with a billion dollars. While new taxes on low and income Ohioans were removed, the tax cut focus remained.

The Senate wants to increase the House tax cuts for businesses and keep the 6.3% income tax cut. In all, the Senate will forego $1.7 billion in revenue that could otherwise be invested in opening closed recreation centers, fixing our roads, or adequately funding our education system. The Senate will also raise tobacco taxes by 40 cents a pack and were unable to reach a compromise on Ohio’s severance tax.

Senator Shannon Jones sponsored an amendment that was included to restore healthcare funding for pregnant women up to 200% of the poverty level. There will be additional money placed into higher education, and the Senate will guarantee that no school district loses funding next year. However, the details of these plans have not been released for us to know what is going to be cut, and how these funds will actually be allocated. Follow us on Twitter for more updates. 

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