OHIO BUDGET | State budget would retain income tax cut

COLUMBUS (AP) — Ohio Gov. John Kasich has released a state budget proposal that closes an $8 billion budget gap through a combination of program restructuring, budget cuts and privatization of public assets.

The plan released Tuesday seeks to retain the $800 million, two-year income tax cut that went into effect in January and add an additional $34 million in tax incentives designed to create jobs.

Among cost-cutting measures is a plan to sell five prisons to private operators to raise $200 million that was covered in the last state budget with federal stimulus dollars.

The new Republican governor scheduled a media briefing with his Cabinet shortly after the budget release. He also plans and evening town hall-style meeting.

On the net:

http://obm.ohio.gov/SectionPages/Budget/FY1213/ExecutiveBudget.aspx