Small business owners are salivating at the prospect Ohio might raise up to $1 billion over five years by hiking taxes on natural gas liquids drillers and using the revenue to pay for a general income tax cut.
In this week's PoliticsOhio, Emily McCord speaks to Bill Cohen from the Ohio Public Radio Statehouse News Bureau to discuss the newly announced order of November's ballot issues, including the Senate Bill 5 referendum. Cohen reports that the wording will be hashed out next week when the Ohio board ballot meets which could lead to some controversy.
Ohio's budget director Tim Keen told a budget compromise committee Wednesday that tax revenues were up $1 billion over estimates for the fiscal year that ends this month and $421 million for the next two-year budget cycle. The current-year boost comes from stronger income tax filings, as the state looks to recover from the worst recession since the Great Depression.
Ohio Public Radio's Karen Kasler joins Emily McCord for this week's PoliticsOhio. She details the House plan to get rid of the estate tax and what impact that will have on local governments, and their changes to school funding.