YOUNGSTOWN, Ohio (WYTV) – Ohio Lt. Gov. Mary Taylor was in town Thursday, touting her boss’s plan to cut taxes for small businesses.
The visit took her to J.L. Treharn and Company, a furniture maker in Youngstown.
Small businesses already enjoy a 75 percent reduction on the first $250,000 in income. Governor John Kasich’s new budget would include a 100 percent reduction for companies making less than $2 million, with the tax burden instead switching to the consumer.
“There is a trade-off there. We support our small businesses. They are the economic drivers of our economy. They are who employ Ohioans and it is a philosophical belief in the shift away from income more toward a consumption-based or consumer-based tax,” Taylor said.
Kasich’s budget plan is only a proposal at this point. Lawmakers will spend months debating before sending the budget back to his desk in June.