Posted Friday, May 17, 2013
In February 2013, Governor Kasich proposed a budget that included many major changes and innovations, including a new formula for educational funding, Medicaid Expansion in-line with the federal Patient Protection and Affordable Care Act, revisions of funding for higher education, and several tax reforms including new severance taxes on oil and gas, an expansion of the taxable base for the sales tax to include services, across the board income tax rate reductions, and a 50% credit on small business income of up to $750,000 or less.
The Ohio House of Representatives recently passed their version of Ohio’s biennial budget. Among the many concerns voiced by Democrats are the rejection of the Medicaid expansion, the change in education funding, the blocking of federal funding for Planned Parenthood, and the various tax changes. The budget is currently in front of the Ohio Senate where it will likely be amended resulting in a conference between the House and Senate. The budget must be enacted by Jun 30.
Senate President Keith Faber will discuss the ideas circulating in the Senate and the prospects for action on the budget. Among the many topics for discussion include the possible deferral of decisions on Medicaid expansion and sales tax reform or other tax reforms, as well as other approaches to educational funding. There is particular interest in reviving the small business tax credit in some form among many Senators. There are many other aspects of the budget that must be considered by the Senate, but tax changes, Medicaid and educational funding are currently among the largest drivers of the budget process.
The 12th District encompasses all of the Allen, Champaign, Mercer, and Shelby Counties. Prior to his election to the Ohio Senate, he served three terms in the Ohio House of Representatives. Senator Faber and his wife reside just outside Celina in Mercer County with their two young children.