Peterson Votes in Favor of State Operating Budget

COLUMBUS – State Representative Bob Peterson (R-Sabina) voted in support of the two-year state budget, a plan that cuts taxes and invests in infrastructure. The budget bill, House Bill 33, is the product of extensive work by members of the Ohio House.

Peterson championed simplifying Ohio’s tax code by reducing the number of income tax brackets from four to three, effectively flattening and reducing taxes for those making up to $92,000 a year. This measure will help Ohio’s economy and promote job growth. The House Budget also includes a provision granting $500 million in bonus depreciation. This change simplifies the tax code by conforming Ohio’s depreciation schedule with the Federal tax code.

Peterson also supported essential funding for Fayette County for road improvement projects, road design, and planning with inflationary factors compensated for to support the economic growth and infrastructure needs of Intel and Jeffersonville Honda/LG.

“Ohio’s economy depends on these two projects and sets the stage for more projects like Intel and Honda/LG to enter into Ohio’s ever-growing business environment,” Peterson said. The follow-through of this promise is crucial for attracting other economic development projects to Ohio, which overall boosts our economy.”

The budget bill now moves to the Ohio Senate for further consideration.