Rather than increasing taxes by $844 million, how about considering increasing state spending at 80% of the current rate of growth?
From the House Republican Caucus:
The fact remains that total spending is authorized to increase $3.5 billion this new fiscal year over last. And next year it is authorized to increase another $900 million over this year. That is a $4.4 billion spending increase that is authorized compared to last year. That is a 7.8 percent increase over last year.
It’s downright ridiculous that it’s even gotten to this point.
Want a bit of perspective? Between 1981-2008, federal spending has increased an average of 2.48 percent per year in inflation-adjusted dollars.
In other words, just in the last year, spending in Ohio increased at over 3 times the federal average between 1981-2008.
And Ted wants a tax hike.