A legislative panel finalizing Ohio's budget is expected to discuss a tax package that includes a statewide income-tax cut of 10 percent.
The six-member committee planned Monday to hash out the budget differences between the House and Senate, which passed separate tax proposals that must be reconciled.
Republican leaders released details last week of the tax package that is meant to be included in the budget. It calls for a gradual income tax reduction over three years, beginning with an 8.5-percent cut in the first year.
The committee working out the differences between the House and Senate versions of the state budget now has updated estimates on tax revenues and Medicaid. Those numbers were higher than estimates, but they came with a caution.
The Office of Budget and Management estimates $709 million more in tax revenues above the original forecast, but budget director Tim Keen says after payments to the federal government for unemployment benefits, transfers to the rainy day fund and other issues are paid, there will only be about $397 million extra to do more tax cuts or spending.
As expected, the Republican dominated Senate passed its budget in a marathon seven hour session. But as Statehouse correspondent Karen Kasler reports, minority Democrats did all they could to get their concerns heard before Republicans passed the bill.
Food banks might lose the money that House lawmakers put in their version of the budget. The Senate’s changes to the budget plan that was voted out of committee today/yesterday do not include a House provision to add 2 million dollars into the state’s food banks, and a Democratic amendment to do that was rejected. Lisa Hamler Fugitt of the Ohio Association of Food Banks says she’s disappointed that more funding for food banks was out of the Senate version of the budget, while changes to the state’s exotic animals law stayed in.