Budget Blues - Cincinnati News, FOX19-WXIX TV

Budget Blues

Senate committee to vote on state budget proposal

The Ohio Senate Finance Committee is set to vote today on a version of the state budget. If approved, the two-year, 51 billion-dollar budget proposal would then go to a joint House-Senate committee to work out any differences. Governor Taft must sign a balanced budget by July First The Senate version calls for keeping most of Taft's sweeping tax changes, including a 21 percent income tax cut to a new tax on business income. The spending plan also freezes funding for third of Ohio school districts and caps college tuition increases at six percent a year or 500 dollars, whichever is less. The Senate also wants to eliminate a proposed doubling of the tax on beer and wine but raise cigarette taxes even higher.

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