Thursday, March 20, 2014 at 8:45 AM
Gov. John Kasich’s proposed income tax cut may not move in the legislature for a while.
Kasich’s budget update is being heard in House committees now, and is being greeted by fellow Republicans who are skeptical of how to make an 8.5 percent income tax cut happen.
House Speaker Bill Batchelder says he supports the idea of a tax cut, but says the numbers may not work in the budget.
“We’ll be very careful,” Batchelder said. “We’re not questioning what the governor has advanced as a goal, because that’s a good goal, but it may not be doable.”
Batchelder is concerned about the projected revenues from the increased tax on big oil and natural gas drillers.
But he also notes that revenues from the state income tax and the state sales tax are up, so he says there are other revenue streams that can be looked at. However, Batchelder says there’s no rush to get the tax cut approved, and it may be fall before lawmakers might vote on it.
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