Ohio lawmakers missed a hard deadline Thursday to produce a plan to increase the state鈥檚 tax on oil and gas. There鈥檚 still no report, and top legislative leaders aren鈥檛 worried about it.
In June, House and Senate leaders scrapped the governor鈥檚 budget proposal to raise the severance tax. Instead they appointed a committee to create a plan by the start of October.
But the deadline passed with no report. And Republican Senate President Keith Faber said what will eventually come out is not a legislative proposal but more of a report on market conditions.
Faber added that there鈥檚 no economic reason to rush this issue.
鈥淎nything we would do on the severance tax isn鈥檛 going to impact the fiscal picture of Ohio the rest of this biennium, it just isn鈥檛, there isn鈥檛 enough money to be gained from any severance tax plan,鈥� said Faber
Supporters of a severance tax hike, such as the liberal-leaning think tank Policy Matters Ohio, said they were disappointed with the lack of movement.
