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Policy Group Opposes New Severance Tax Plan

Wednesday, May 7, 2014 at 5:42 PM

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Ohio legislators are closer to voting on a new tax rate for oil and gas companies. But as Statehouse correspondent Andy Chow reports, opponents of the plan still think the rate is too low.

Lawmakers are now mulling over a new severance tax plan that splits the difference between proposals from House leadership and Gov. John Kasich. The tax on oil and gas would be set at 2.5 percent. Some say the revised plan is a compromise between the two parties but other groups still think the rate is too low.

That includes Wendy Patton with the liberal-leaning think tank Policy Matters Ohio.

“The rate remains too low. The exclusions, the exemptions, the tax holidays,” Patton said, “too large. We feel that this is not a bill that does justice to the state of Ohio.”

Patton repeated her group’s call for a 5 percent severance tax rate with more funding diverted towards local governments.

The oil and gas industry says it’s supporting the measure but still wants an exemption from another tax on business known as the Commercial Activity Tax.

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Energy, Government/Politics

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