Gov. Mike DeWine chose the Fourth of July to sign the state budget into law. The spending plan passed the House and Senate the previous Friday.

The $191 billion two-year budget represented a compromise between the Senate and House versions of the bill. It included $3.1 billion in tax cuts and reduced Ohio’s income tax brackets to just two — 2.75% and 3.5%.

It also enhances Ohio’s August sales tax holiday and, in a big victory for small businesses, includes a provision exempting 90% of Ohio’s businesses from paying the commercial activity tax (CAT) by 2025. Eliminating CAT liability was a priority for NFIB, State Director Chris Ferruso said. “It’s something our small business members have needed for many years,” he said.