In response to the Kasich Administration’s announcement today that it is transferring more than $650 million to the Budget Stabilization Fund, Senate President Larry Obhof
(R-Medina) issued the following statement:
“Today’s deposit in the Rainy Day Fund marks a significant turnaround from where we began this General Assembly. Last year, the House and Senate faced a $1.1 billion budget gap, but we rolled up our sleeves and got to work, passing a budget that was balanced, conservative and fiscally responsible. I am proud of my Senate colleagues, who worked hard to keep Ohio on a fiscally-sustainable path while investing in the citizens and priorities of this State.
Ohio is in a stronger fiscal position than it has been in years. At nearly $2.7 billion, the Rainy Day Fund is now at its highest point in Ohio history and is just below its recently-increased statutory target. The state’s improved fiscal condition and growing economy show that conservative policies like tax cuts, regulatory reform, and responsible budgeting are working for Ohio.”