The state operating budget makes a landmark investment of $16 billion in Ohio students. That investment will expand school choice with a universal voucher program to safeguard lower-income families, granting them access to educational options.
“Now students can have the education of their choice,” said Williams. “These funds will give them the freedom to choose the school they would like to attend, without the chance of having to fill a financial void.”
Additionally, the funding will provide a historic investment in the Fair School Funding Plan. This investment of more than $8 billion in 2024 and another $8.2 billion in 2025 will help with education inequalities. The budget also includes an additional $300 million for high school career-tech facilities to provide students with valuable skills and workforce training.
In addition to funding schools, the budget also implements increased tax cuts for all Ohioans. Under this new system, individuals earning between $26,050 and $100,000 will benefit from an income tax rate of 2.75%. Meanwhile, those earning above $100,000 will have a flattened rate of 3.5%. A committee to study how to reduce sharp increases in property taxes has also been created.
The budget was signed into law by Governor Mike DeWine July 3.