Ohio House budget plan includes 6.6% personal income tax cut
COLUMBUS, Ohio (AP) — House lawmakers have proposed a hefty reduction in the state income tax cut as part of the latest version of the state budget.
The $69 billion spending plan approved by the House Finance Committee Wednesday eliminates personal income taxes for those earning less than $22,500 and enacts a 6.6% cut for everyone else. Minority Democrats joined majority Republicans in a rare unanimous vote.
Over the objection of some business groups, the plan also lowers a business income deduction from the first $250,000 in income to the first $100,000.
The proposal increases the minimum salary for Ohio teachers from $20,000 to $30,000 annually, and adds $125 million to Gov. Mike DeWine’s education proposal.
A full House vote is expected Thursday. The bill would go next to the Senate.