Kasich Says Lower Tax Revenues Mean "Tight" Budget Is Coming, But No Tax Hikes
Gov. John Kasich is following up on the cautionary statements his budget director has made about challenges coming in the next budget.
Tax revenue coming in the first quarter of the fiscal year has been down – last month tax receipts were nearly 5 percent lower than expectations, and total state revenue was more than 2 percent below projections. Gov. John Kasich said that means a tough budget is ahead. “There’ll be no tax increases. But it’s going to be tight," Kasich said. "It’s not going to be an ability to give significant percentage increases.”
Kasich and Republican lawmakers have said they want to continue tax cuts, but several times Kasich has also asked for increases in taxes on oil and gas drilling, which have been rejected.