Makes Significant Investments in Education While Returning Millions to Ohio's Taxpayers
COLUMBUS – Today, the Ohio Senate introduced a new biennium budget plan as the state forges ahead into the post pandemic economy.
Paving the way, is a reformed school funding plan that provides a reliable, sustainable and affordable foundation formula for Ohio’s 611 public school districts to build their budgets.
“The Senate took a deep dive, peeling back the layers of the current funding mechanism, to determine a base cost of education,” said Senate President Matt Huffman
(R-Lima). "This plan provides a new foundation formula that provides reliability to districts and accountability to taxpayers.”
Senate Finance Chairman Matt Dolan
(R-Chagrin Falls) said, "Teachers are the key to a successful education, and this plan starts by funding teachers.”
Learn more about the Senate's school funding plan here
The Senate’s balanced budget also brings additional relief to taxpayers through an across the board 5% income tax cut. This keeps $874 million with the hard working families who earned it. Currently, Ohioans who earn less than $22,150 pay zero income tax. This plan preserves the Senate’s commitment to tax reform from the last several General Assemblies, which reduced the overall number of tax brackets from nine to five.
“As we emerge from the pandemic, we must make sure Ohioans get to keep more of their hard-earned money,” said President Huffman. “Fundamentally, our members believe it is your money first, not the government’s money.”
Among other highlights in the Senate's budget, the proposal:
- Supports Our Veterans: The proposal maintains a critical therapy program for veterans suffering from PTSD. Provides additional $740,000 for 13 veterans groups across Ohio and appropriates $400K to provide temporary housing for female veterans who are homeless.
- Protects Ohio's Water Quality: Appropriates an additional $20 million for Ohio’s H2Ohio program.
- Invests in the Health and Wellbeing of Ohioans: Makes targeted investments in the health of women and children, including the expansion of Medicaid coverage for new mothers from 60 days to one year. Increases access and funding for child care services.
Sub. House Bill 110 will now be scheduled for numerous public hearings in the Senate, beginning Wednesday. For more information on testifying on the budget during committee hearings, please contact the office of Finance Chair Senator Matt Dolan at (614) 466-8056 or Dolan@OhioSenate.gov.
Today’s news conference is archived on www.OhioChannel.org.