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Plain Dealer: Gov. John Kasich Signs Ohio’s Two-Year State Budget into Law

As reported by the Plain Dealer, Gov. John Kasich signed into law Ohio’s two-year state budget this week – here are some excerpts:

Projected state spending for the entire budget grows an average of 2 percent each year. That’s consistent with previous budget years since Kasich took office, which saw average growth of 2.2 percent a year over four years.

That’s lower than the average for the 12 preceding fiscal years — eight years under Republican Gov. Bob Taft and four years under Democratic Gov. Ted Strickland — when the average annual growth rate was 4.2 percent.

The GOP-authored budget — supported by just one Democrat, Rep. Martin Sweeney of Cleveland — provides a 6.3-percent, across-the-board state income tax cut as well as tax deductions for business owners. That reduces Ohio’s income-tax rate from 5.33 percent to 4.99 percent for residents making more than $200,000 per year — a top rate not seen since 1982, according to lawmakers.

The budget increased state aid for K-12 education by about $950 million. But there again, the final language was a compromise. Kasich proposed boosting aid to poorer school districts while reducing guarantees to more affluent districts.

For higher education, Ohio colleges and universities will be required to freeze tuition rates for the next two years.

You can read the entire story here.

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