Celebrate! Ohio Severance Tax Increase Dead in 2015

It's Dead JimVery good news for the Ohio Utica Shale industry: RINO Gov. John Kasich’s plan to raise the severance tax is dead–at least for this year. Yesterday Ohio legislators stripped out a proposed tax hike from the state’s budget bill. We’re still not out of the woods yet as far as a tax increase down the road. Legislators decided to set up a “study committee” made up of both House and Senate members to consider a severance tax increase in the future. This is the third year in a row Kasich has tried and failed to raise the severance tax. Perhaps sensing yet another defeat on the tax issue, last month Kasich made a not-so-subtle threat that if the drilling industry doesn’t accept his 6.5% severance tax now, a ballot initiative may just pop up out of thin air to enact a higher severance tax–and that imitative would probably be for 10% or more (see OH Gov Kasich the Bully: Accept My 6.5% Tax or Risk a 10%+ Tax). In other words, you take my “minor” shakedown or I’ll be sure you get screwed over big-time. Will Kasich carry out his threat?…

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