COLUMBUS—Earlier this morning, in a 4-2 vote, Ohio’s Conference Committee approved a two-year, $60 billion budget, sending the budget to the House of Representatives and Senate for final votes.

During sessions for both respective legislatures, the House finalized the budget in a 59–38 vote, and the Senate finalized the budget in a 23–10 vote. Included in the budget is a provision to pass a 2.75% flat income tax rate.

Partnership Executive Director Monty Lobb released the following statement:

“Thank you to the visionary leadership in both the House and Senate for seeing the need for a flat tax and then delivering on making it a historic reality. Ohio is now on the path to eliminating the income tax and opening the floodgates to growth and economic prosperity.

“The Christian Business Partnership’s testimony and lobbying efforts to the General Assembly focused on the facts that a flat tax, and taking the rate down from 3.5% to 2.75% now, and eventually to 0% in two years, will stimulate the Ohio economy by allowing families to keep more of their own hard earned money to spend or save as they see fit. This kind of economic environment makes it clear that Ohio is open for entrepreneurs and growth-oriented businesses around the country, and even internationally.

“Ohio now will be the most competitive state in the Midwest when it comes to protecting taxpayer rights, more enticing for corporate relocation and expansion, and give itself the commercial opportunity to compete on a broader regional, national, and global stage.”

What’s next?

With approval from the House and the Senate, the budget has now been passed on to Governor DeWine to review and sign by Monday, June 30.

During this time, the Governor can:

  • Sign the budget into law, making the full budget official, taking effect on July 1.
  • Veto parts of the bill by using a “line-item veto” to strike out specific sections without rejecting the whole budget.
  • Send the budget back, although rare, changes could be requested before signing.

After the Governor makes a decision, the legislature has the option to override any vetoes with a 3/5 majority vote in both chambers.