Governor Kasich wants to increase oil and gas drilling taxes and link proceeds to an income-tax cut, but some lawmakers have concerns.
COLUMBUS, Ohio (AP) — State Senate President Tom Niehaus says he's committed toward working to give the governor's income tax plan full consideration. The written statement from Niehaus comes a day after he had expressed wariness about the proposal.
Gov. John Kasich wants to hike oil and gas drilling taxes and link proceeds to an income-tax cut. His plan would raise the severance tax on oil and gas extraction to 4 percent in two or three years. Income tax reductions would deepen as proceeds rose.
The newly appointed 17th District State Senator Bob Peterson says even he has some concerns.
"We're not opposed to lowering the taxes on the income tax, but raising the taxes on the severance tax has the potential to hurt the growing oil and natural gas industry," Peterson said.
On Friday, Niehaus called Kasich's proposal "thoughtful" and said in the statement he looked forward to working with him.
