Governor Kasich has been very clear that he does not support considering raising taxes on Ohioans as a means to balance the state budget and fill the nearly $8 billion structural imbalance. Legislators in the Ohio House agreed during a press conference yesterday and spoke about how raising taxes would hurt Ohio’s economy even more and prevent job creation. You can read more below from the Youngstown Vindicator:
The chairman of the House Finance Committee wasn’t offering many specifics Monday on how Republicans in his chamber plan to alter Gov. John Kasich’s $55.5 billion biennial budget proposal.
But Rep. Ron Amstutz, a Republican from Wooster, and Rep. Christina Hagan, a Republican from Alliance, did make one thing clear: The House GOP isn’t going to back tax increases as a means of balancing the budget.
“That’s not in the interest of the majority of the House,” Hagan told Statehouse reporters Monday. “It’s not something that we’re willing to take on. … Ohio’s combined state and local tax burden is more than most other states, so that’s not something we’re willing to look at if we want to be open for business.”
Critics of the plan have called on lawmakers to consider tax increases to cover the costs of needed state services rather than taking funding away from local governments.
But Hagan and Amstutz said such increases would be a mistake. Citing projections from the Ohio Department of Taxation, Hagan said income-tax rates would have to be increased 46 percent to 56 percent in order to fill an $8 billion hole.
That would equal about $761 more in tax payments for an Ohio family of four with an adjusted gross income of $66,000.
You can read the entire article here.