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Ohio’s state budget director says the state is in good economic shape heading into budget season

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COLUMBUS, Ohio (Statehouse News Bureau) — Ohio is in good shape going into the upcoming two-year budget season, which ends when the budget comes out by the first week of February. That’s according to Kimberly Murnieks, director of the Office of Budget and Management, who told leaders at the Ohio Chamber of Commerce that the state’s bottom line is stronger than in recent years. And she said the state’s rainy day fund is healthy too.

Kim Murnieks, Ohio Office of Budget and Management director, takes a question from a member of the Ohio House Finance Committee on the first day of hearing on the two-year state budget on February 7, 2023.
Kim Murnieks, Ohio Office of Budget and Management director. [Karen Kasler | Statehouse News Bureau]
“It is the highest level that it has been and it would support any uncertainty that might arise,” Murnieks said.“Right now [it] has more than $3.8 billion that is available should any uncertainties arise and we also plan in a more short-term way. The state has a strong emergency purposes fund.”

Murnieks said that emergency fund can be used for unplanned things like natural disasters like flooding that cannot be anticipated.

But Murnieks said the upcoming budget season will not have as much in one-time federal funds, like COVID money.

“Those provided one-time resources that Ohio very planfully used for one-time investments. And so we are back to a normal budget situation where we have to balance our revenues, our tax revenues, mostly sales and income taxes, with the ongoing programs of state government,” Murnieks said.

Republican lawmakers have pushed for tax cuts for decades and are likely to do so again. Bills to eliminate or phase out the state income tax have been proposed in the last two legislative sessions.