States impose a wide range of taxes, and the ones that most capture our attention aren’t always the largest sources of revenue. Considering the states in aggregate, the largest source of state and local tax collections...
- The Tax Policy Blog
- State Budgets: Ohio Governor Expands Tax Incentives, Thre...
State Budgets: Ohio Governor Expands Tax Incentives, Threatens "Washington Monument" to Get Federal Aid
Gov. Ted Strickland (D) has instructed state agencies to cut a total of $1.9 billion from the current biennial $116 billion state budget, including a recent order to close a $640 million shortfall. Strickland has also warned that the 2010-11 biennial budget faces a $7.3 billion shortfall, outlining a "worst-case scenario" of closing six prisons, slashing education subsidies and hiking tuition, stopping nursing home inspections, and pushing hundreds of mentally disabled individuals out of state care facilities. Strickland has used this "Washington Monument" ploy to push for $5 billion in federal aid, but doesn't plan to roll back some recently phased-in income tax reductions. Additionally, state officials are seeking a reorganization of school funding and $1.57 billion in subsidies to favored businesses as stimulus.
More on Ohio here.
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