John Kasich: "And this corporate franchise tax that you're facing right now - we're looking at it. Taxing people on the basis of net worth rather than net income is not something that's all that appealing to me."
For most businesses, the corporate franchise tax was replaced with the commercial activity tax - known as the CAT. Kasich's budget expects around $400 million over the next two years to come from the corporate franchise tax. But Kasich will likely have a surplus of around a billion dollars when the current budget year expires at the end of June.