Ohio tax panel: Go slow with oil and gas industry

October 23, 2015

The oil and gas market remains too volatile to consider an immediate tax hike on an industry that Gov. John Kasich has repeatedly said was getting a great deal in Ohio, an informal legislative panel said Thursday.

The panel, part of the broader 2020 Tax Policy Study Commission, had been working behind closed doors with the industry. The report had been promised by legislative leaders more than three weeks ago.

Instead of proposing any rate increases, the informal group's report suggested setting unspecified triggers at which point increases might be implemented or a slow phase-in of any increase. Any change should also look at the broader impact of other taxes on the industry as well as the potentially higher cost of extracting oil and gas from Ohio shale.

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