Tagged: Income Tax

The House has approved its version of the budget, and now the Senate will make its changes. One idea that’s been suggested by Senate President Keith Faber is to replace the House’s 7% income tax cut for all Ohioans with a 50% income tax cut to small businesses, which had been in Gov. John Kasich’s budget.

Small business owners are salivating at the prospect Ohio might raise up to $1 billion over five years by hiking taxes on natural gas liquids drillers and using the revenue to pay for a general income tax cut.