Wayfair

DAN KONIK / STATEHOUSE NEWS BUREAU

The two-year state budget proposed by the Ohio House includes some new tax cuts and takes away some tax breaks. It includes $300 million dollars worth of income tax breaks for low to moderate income Ohioans. 

House Speaker Larry Householder (R-Glenford) said the current business income deduction will be reduced. Right now, businesses don’t pay taxes on the first $250,000 of income, but he said that will go down to $100,000, making taxes fairer for all Ohioans.