Pressure Mounting For State Budget

POSTED BY: George Hiotis
Monday, June 16, 2003 - 10:21 AM
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Pressure is mounting to have the state budget finished by June 20th, ten days earlier than Ohio law requires. That’s because the plan includes a temporary penny-per-dollar state sales tax increase to boost dwindling state income. The current statewide sales tax is five cents per dollar. Ohio Department of Taxation Commissioner Tom Zanio says the sooner the state can begin collecting the extra penny, the better. If the increase makes it into the final budget, Zanio wants retailers to have at least ten days to prepare to collect the higher tax, which would take effect July first. That’s the first day of fiscal year 2004. A six member join house-senate committee is working out differences in the spending plan that now sits at 49.3 billion dollars.

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