At a press conference on Tuesday, Governor John Kasich announced that his administration was considering a plan that would take $147 million from the projected state surplus to fund the cost of a one-time reduction in the state tax withholding tables.
According to the administration, even after funding the withholding tax table reduction, there would be $68 million in surplus to divert to the ‘rainy day’ fund, pushing that fund to its maximum legal limit.
This is the governor’s second attempt at driving down the withholding tables. In his 2016 State of the State speech he introduced the same idea, which was not acted upon by the legislature. The governor said he would be having conversations with state lawmakers in the near future regarding the proposal.
Two years ago the Kasich administration said that this change would give a person making $60,000 a year, and claiming one dependent, an additional $1.10 per week.
Early reactions from the House and Senate were noncommittal.
Here’s a summary from Hannah News Service. 8/8/2018