Unbalanced budget disaster deepens as current fiscal shortfall climbs
Fiscal shortfall passes $1 billion
Following Tuesday’s House passage of an unbalanced two-year state budget bill, the Kasich Administration today released the latest tax revenues for the current fiscal year, showing Ohio’s stumbling economy resulted in a nearly $160 million shortfall for April 2017 alone.
Ohio’s fiscal shortfall during the course of one year now climbs to negative $1.057 billion under GOP leadership. Today’s revenue returns suggest a serious financial problem for the state now, even before the upcoming state budget is finalized in June.
“Ohioans are looking to their elected leaders in Columbus to confront the greatest challenges facing our state – the opioid addiction crisis claiming thousands of lives each year, an unconstitutional funding model for our public schools, rising infant mortality and falling wages – but the state cannot afford to make meaningful progress to grow the middle class after years of tax-shifting have blown a hole in our fiscal future,” said House Democratic Leader Fred Strahorn (D-Dayton).