Key Ohio Republicans Oppose Tax on Drilling
Monday, March 11, 2013
State Treasurer Josh Mandel and House Speaker William Batchelder of Medina both oppose Gov. Kasich’s proposed tax on gas and oil drilling in the state, according to the Akron Beacon Journal.
Kasich’s proposed severance tax requires drillers pay as high as 4 percent of production. The revenue from the tax would offset the recent income tax cuts for Ohioans.
Mandel and Batchelder spoke out against the tax at a three-day meeting of the Ohio Oil and Gas Association.
Read it:
“This is going to be a fight — a passionate fight,” Mandel said of the severance tax issue. “Now is not the time for government to kill the golden goose and scare away the capital that could lead to a long-term recovery in our state.”
Kasich’s proposal could generate $920 million through fiscal year 2017.
More information
Pennsylvania currently has a tax that requires drillers to pay $50,000 per well known as Act 13. The tax has had a positive effect on the state.
Read more about Ohio’s proposed severance tax.
» Via: The Akron Beacon Journal› Two key Ohio Republicans oppose Kasich’s tax proposal on drilling
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