Kasich Wants Ohio Income Tax Cut Paid With Oil Company Money
With the election over, Gov. John Kasich is renewing his push for a massive income tax cut next year for the state.
Kasich spoke at the state farm bureau’s annual meeting on Thursday.
The governor said he wants to raise taxes on the oil and gas industry in order to cut the states income tax. The increase would amount to about 20 cents on an $80 dollar barrel of oil.
Many in the crowd were less than enthusiastic, and some claimed the state would be giving up too much.
“I believe we're giving up the possible aggressive nature of the oil companies and where they decide to locate at,” said one person at the forum.
“But wait a minute. Why have they invested billions of dollars when they know the severance tax is coming?” replied Kasich.
Kasich told WBNS-10TV that although big oil is a traditional ally of Republicans, he does not see this as a crack between himself and GOP legislative leaders.
Capitol Square on WBNS-10TV will have more on the governor’s upcoming battle with oil companies on Sunday’s broadcast starting at 11 a.m.