Tags: drilling | taxes | John | Kasich |

Ohio Republicans Split With Kasich Over Drilling Tax

By Sandy Fitzgerald   |   Friday, 13 Apr 2012 12:09 PM

Ohio’s Republican lawmakers have broken with Gov. John Kasich over his plan to impose a new tax on shale drilling while at the same time reducing income taxes, according to the Columbus Dispatch.

The Republican governor says his plan would benefit Ohioans by allowing them to share in a tax break that could reach $500 million over the next five years. But some GOP state House members suggested the plan could hurt a drilling industry that is just starting to boom in Ohio.

House Speaker William G. Batchelder told the Dispatch that members have “lots of questions” as well about other proposals in the Kasich plan, which also covers pipeline rights-of-way and other tax issues.

In an effort to get answers, lawmakers are moving to break the Kasich plan into a package of 10 smaller bills. But none of them will address the issue of increased shale drilling taxes.

“There are just an awful lot of questions that obligate us to have thorough hearings before we handle the legislation,” Batchelder said.

Kasich has offered one tax proposal, however, that the legislature appears likely to pass. According to the Dispatch, it would impose a new bank tax structure that would lower overall rates for the industry and stop larger multi-state banking operations from using creative accounting procedures to avoid paying Ohio taxes.



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