Republican Ohio Gov. John Kasich says “everything is under the microscope” as the state looks to makeup a revenue gap in the upcoming state budget.
Kasich also hinted that his proposed income tax cut in the upcoming budget is not likely.
Kasich said they would need to cut the budget proposal by $400 million for each fiscal year to make up the loss.
March revenue receipts fell nearly $319 million below estimates. That included a $203 million lag in tax receipts and a $116 million lag in non-tax receipts.
The governor scheduled a news conference Thursday with Budget Director Tim Keen and fellow Republicans, House Speaker Clifford Rosenberger and Senate President Larry Obhof.
The Office of Budget and Management attributed the shortfall essentially to three tax areas: income taxes, which were 17 percent below projections; sales taxes, which were about 5 percent below projections; and taxes paid on out-of-state insurance policies.
Julie Carr Smyth of The Associated Press contributed to this report.
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