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Budget Cuts Roll Downhill, New Revenue Can Too

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One Ohio Now focuses on the state budget, but what happens at the federal level absolutely impacts Ohioans (as do local budgets).  Arguably the biggest federal issue related to budgets and revenue in the coming months will be the impending expiration of the temporary Bush Tax Cuts.  Sequestration could mean hundreds of millions of dollars less for Ohio, and there are certainly other major issues, but the tax cuts mean that there are trillions (with a “T”) less for the public services that make our communities stronger.

There will be all sorts of plans bandied about in the months to come regarding what to do about the Bush Tax Cuts: Obama wants to extend the cuts for everyone who makes under $250,000/year for one year and House Republicans have suggested extending them all for a year, for example.  We’ll be watching closely.