Senate Version of State Budget Restores Tax Breaks, Increases Money for School Vouchers
Ohio Senate Republicans made sweeping changes to the House version of the state budget, including larger tax cuts and restored tax breaks. The changes could set up a big battle between the House and Senate.
The Senate budget revives the small business income tax deduction on the first $250,000 earned. The House lowered that to the first $100,000.
It also brings back the film tax credit and diverts $125 million from school wraparound services to school choice vouchers.
Senate President Larry Obhof (R-Medina) said the budget is investing in the state while cutting taxes across the board by 8 percent over two years.
“Frankly the state is doing very well fiscally, and we have the opportunity to do both. We’ve made significant investments across the board in this budget bill.”
Obhof said they also plan to address academic distress commissions and high school graduation standards in future amendments.