Republican leadership in the Ohio House of Representatives on Tuesday unveiled their version of the state’s two-year operating budget, which would cut nearly all of the tax reforms proposed by Gov. John Kasich, including a 6.5% severance tax on unconventional oil and natural gas production. Substitute HB 64 would reduce Kasich’s $72.3 budget by $777 million. House majority leaders said Kasich’s proposals to increase the state sales, commercial activity, cigarette and severance taxes - floated to help fund a $5.7 billion, 23% income tax cut - had been removed. Instead, they proposed a $1.2 billion, 6.3% income tax cut.
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