COLUMBUS— State Senator and Senate Finance Committee Chairman Matt Dolan (R-Chagrin Falls) today joined Ohio Senate President Larry Obhof (R-Medina) to announce the passage of Am. Sub. House Bill 166, the state’s two-year operating budget. The Senate voted 29-1 in favor of the conference committee report approved yesterday. The bill now awaits Governor DeWine's signature.
"We have worked hard and diligently," said Dolan. "This budget preserves tax cuts for our families and job creators, supports children, an educated workforce and our natural resources. I am grateful for the steadfast leadership of President Obhof, my Senate colleagues, and our friends in the House who have remained committed to the process of producing a responsible, balanced budget for people of Ohio."
Budget highlights include:
"This budget was passed with strong bipartisan support, as both Republicans and Democrats recognized the need for new investment in key childhood and neighborhood programs. We did this while never forgetting our commitment to the taxpayers, and that we believe it’s your money first, not the government’s money,” said Senate President Obhof. “Ohioans earn their money to take care of their families, not to take care of big government.”
The budget includes income tax cuts of nearly $700 million, providing significant tax relief and support to working Ohioans and job creators with the purpose of keeping the state’s economy healthy and growing.
Key elements of the tax reform plan include:
Am. Sub. House Bill 166 will now be sent to the Governor for his signature. When signed, the new operating budget will become effective immediately.