Progress in Ohio under Gov. John Kasich
- Closed an $8 billion Shortfall without Raising Taxes: On June 30, 2011, Gov. Kasich signed the FY2012-13 budget bill—the Jobs Budget—and closed an $8 billion budget shortfall without raising taxes. In fact, the budget cut taxes by more than $800 million. Based on the twin priorities of fiscal stability and job creation, the Jobs Budget helped get Ohio’s fiscal house in order and achieved major, needed policy changes to set Ohio on a path toward prosperity.
- Cut Income Taxes: Gov. Kasich is a longtime supporter of income tax cuts, reducing the overall tax burden on Ohioans by $3 billion since he came into office. With Ohio’s small businesses employing nearly half of the state’s private-sector workforce and more than 75 percent of small businesses remitting their taxes as personal—not corporate—income, cutting the income tax is a priority.
- Killed the “Death” Tax: Beginning in 1968, Ohio discouraged business growth and investment by levying a “death” tax on the value of a person’s estate. To make matters worse, Ohio had the lowest exemption in the U.S. at $338,333. Many farmers and small business owners are asset-rich but cash-poor, making it difficult for families to pay the taxes on inherited assets, often resulting in the closure or sale of a family business. By killing the “death” tax in his Jobs Budget, Gov. Kasich helped farmers and small businesses see more than $300 million in tax relief annually.
- Modernized Medicaid: Improving the quality of services for vulnerable Ohioans who need them and giving taxpayers better value are the twin goals of Gov. Kasich’s Medicaid modernization efforts. Implementing this balanced approach allows Ohio to improve care coordination and emphasize providers’ care quality, not volume, leading to better health, better care and $2 billion in responsible savings.
- Revamped Economic Development: Job creation is Ohio’s greatest need and the Governor’s top priority. To jump start these efforts, Gov. Kasich split off the state’s job-creation functions from the calcified, bureaucratic Department of Development and, in the first bill he signed, created a new private, non-profit corporation—JobsOhio—to respond to job creators’ needs at their pace instead of at “the speed of statute.”