Topics:
July 5, 2023 Last Edit: June 5, 2025
Governor DeWine signed the $191 billion two-year spending plan on the Fourth of July
State Budget Calls for Reductions in State Income Tax
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.
State:
Get to know NFIB
NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide.
Related Articles
March 24, 2026
Ohio’s Small Businesses Announce Primary Endorsements
NFIB’s Ohio PAC endorsed 7 candidates for the General Assembly.
Read More
March 23, 2026
Illinois House Committee Advances Bill to Give Unemployment Benefits to Striking Workers
The Illinois House Labor Committee voted to advance a bill that would give unemployment benefits to striking workers.
The measure, HB 2565 (Vella), would pe…
Read More
March 20, 2026
ICYMI: NFIB President Brad Close Joins the Radio on WSYR/Syracuse, WGY/Albany to Discuss the 20% Small Business Deduction
NFIB led the successful fight to make the federal Small Business Deduction permanent last year.
Read More
March 20, 2026
NFIB Thanks Lawmakers, Kemp for Quick Action on Fuel Tax Suspension
Oil prices affect the cost of doing business.
Read More