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Lawmakers Likely To Work Through Weekend On State Budget Deal

Members of the Conference Committee met for the first time on Tuesday.
Members of the Conference Committee met for the first time on Tuesday.

It’s looking like the conference committee working on a compromise state budget will go into the weekend – with the deadline to sign the budget on Sunday night. And among the differences between the House and Senate versions is an income tax cut and a small business tax break. 

The Senate’s income tax cut is 21 percent larger than the one in the House budget. House Speaker Larry Householder (R-Glenford) said Senators paid for that by spending down a cushion in the House budget and taking surplus funds from state agencies.

But Senate President Larry Obhof (R-Medina) said extra money was accessed elsewhere.

“We actually did a few things that I think drew down more federal dollars – we were able to leverage federal dollars more. But in terms of state GRF, I don’t think the difference was very significant," Obhof said.

The Senate also restored a deduction allowing many small businesses to take the first $250,000 of their incomes tax free – the House had dropped that to $100,000.

Budget conferees expect to work through the weekend to come up with a deal.

Copyright 2020 The Statehouse News Bureau. To see more, visit The Statehouse News Bureau.