State Tax Revenue Down
After
holding steady compared to estimates for the first six months of Fiscal
Year 2010, Ohio’s state tax receipts fell short by $108 million in
January. Total state revenues were off by $129 million, and the
year-to-date shortfall is now $334 million. Although the Strickland
Administration notes that the January results do not necessarily depict
a trend, the weak revenue performance (particularly the personal income
tax, which was below estimate by $139 million for the month) is
concerning, particularly in light of continued job losses in Ohio. In
December, the General Assembly delayed the final year of the personal
income tax cut enacted in 2005, generating an estimated $850 million in
added revenue for the Fiscal Year 2010-2011 budget period, but that
revenue was to fill a hole resulting from the loss of the video lottery
terminal plan. If revenues continue to fall below projections, more
legislation may be needed to address the problem.
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How to Pay for Care 
