Senate's Proposed Budget Includes Tax Cuts for All Ohioans
Republican leaders of the Ohio Senate have proposed a $75-billion-dollar, two-year budget that includes a 5% across-the-board income tax cut – which is a boost fromthe 2% cut in the House budget.
Senate President Matt Huffman (R-Lima) says the issue he’s hearing about most these days is employers who cannot find enough employees. So, he says the 5% cut, which totals $874 million, is an “incentive” for working Ohioans.
“If we want to talk about stimulus plans and what works and what doesn’t, an income tax cut will always be the best stimulus," Huffman says.
Huffman says the tax cut is not targeted to specific incentives but will be across-the-board for all Ohioans. The Senate budget includes $1.3 billion in tax cuts for individuals and businesses, and Huffman says that’s paid for by reductions in spending in state agencies and services.
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