COLUMBUS, Ohio — Gov. John Kasich wants to fill the state’s rainy day fund and put a little more cash in Ohioans’ pockets before he leaves office in early January. Kasich, eyeing a projected $368 million budget surplus, wants to reduce income tax withholding rates at the end of this year to match a previous tax rate cut. So instead of seeing any extra money withheld in a tax refund next spring, workers would get slightly larger paychecks. Kasich proposed the withholding change in 2016, but lawmakers passed on the plan. Making the change would cost $147 million, state Budget Director Tim Keen said. Some taxpayers would see a smaller refund come tax time, and others could owe taxes when they file returns. Kasich also wants to top off the state’s budget stabilization fund, known as the rainy day fund. A July deposit in the fund brought it to $2.67 billion — about $68 million short of the maximum allowed by law. “I think we’re in a position to responsibly save a little more money to protect our kids and the poor and provide a little tax relief to the citizens of the state,” Kasich said. Kasich said he wants… Read full this story
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