Governor backs business tax deduction as budget talks go on
COLUMBUS, Ohio (AP) — Republican Gov. Mike DeWine says Ohio’s upcoming two-year budget should retain a business deduction that’s become a sticking point in ongoing negotiations.
Legislative leaders missed the June 30 deadline for approving the $69 billion spending plan and approved a 17-day temporary budget instead.
It’s unclear if they’re in position to pass the permanent budget by the new deadline Wednesday.
At issue is a $250,000 business tax deduction currently in state law. DeWine wants to keep the deduction. Fellow Republican House Speaker Larry Householder wants it reduced to $100,000, and to raise the 3 percent limit on income above $250,000.
Senate President Larry Obhof, also a Republican, would keep the $250,000 deduction but also raise the 3 percent limit.
DeWine said a “status quo” position on taxes gives businesses needed predictability.