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Kasich, Legislative Leaders to Address Lagging State Revenue
By: Associated Press
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COLUMBUS, Ohio (AP) – Republican Ohio Gov. John Kasich and his budget director are joining state legislative leaders to discuss how a state revenue shortfall will affect upcoming state budget deliberations.
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 event comes a day after the state budget office reported 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 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.