00:00:37 | >> SENATORS VOTE TO REPEAL A CONTENTIOUS ELECTION REFORM LAW |
00:00:58 | THAT SUPPORTS TO BE ON THE FALL BALLOT. |
00:01:00 | A CONSERVATIVE THINK TANK PUTS OUT A GLOWING REPORT ON THE SO- |
00:01:04 | CALLED RIGHT TO WORK AMENDMENT. CRITICS SAY IT IS NOT RIGHT AND |
00:01:08 | IT WILL NOT WORK. AND THE GOVERNOR'S BIG UPDATE TO |
00:01:12 | LAST YEAR'S BUDGET IS MAKING THE ROUNDS OF COMMITTEES BEFORE |
00:01:15 | HEADING THIS -- BEFORE HEADING TO THE HOUSE AND SENATE, |
00:01:21 | BUT IT IS GOING AROUND WITHOUT A KEY PROVISION INCREASING THE |
00:01:24 | TAXES ON OIL AND GAS DRILLERS TO FIND AN INCOME TAX. |
00:01:30 | THE NOVEMBER ELECTION IS MONTHS AWAY BUT AN ISSUE THAT DEMOCRATS |
00:01:35 | PUT ON THAT BALLOT IS A STEP CLOSER TO BEING MOVED. |
00:01:38 | THE OHIO SENATE HAS APPROVED THE REPEAL OF HOUSE BILL 194, THE |
00:01:44 | BIG PACKAGE OF ELECTION REFORMS WHICH SHORTENS THE EARLY VOTING |
00:01:50 | TIME, PROHIBITS BOARD OF ELECTIONS FROM SENDING OUT |
00:01:53 | UNSOLICITED ABSENTEE BALLOTS APPLICATION AND LIFTS THE |
00:01:57 | REQUIREMENT THAT ALL WORKERS DIRECT ORDERS IN THE ROCKIES |
00:01:59 | INTO THE CORRECT ONE -- DIRECT VOTERS IN THE WRONG PIECE INTO |
00:02:07 | THE CORRECT ONE. MAJORITY REPUBLICANS SAY IT'S AS |
00:02:11 | AZERI TO REPEL THE LOSS OF VOTERS ARE NOT CONFUSE THIS |
00:02:14 | FALL. BUT DEMOCRATS SAY THAT THIS IS |
00:02:18 | NOTHING MORE THAN AN ATTEMPT TO SUPPRESS THE WILL OF THE VOTERS |
00:02:20 | WHO SHOULD GET A CHANCE TO VOTE ON THE ISSUE. |
00:02:23 | IT MOVES ON TO THE REPUBLICAN ONE HOUSE. |
00:02:27 | LAWMAKERS SENT ON TO THE GOVERNOR IF HE SPONSORED BILLS. |
00:02:34 | TWO NEW POLLS OUT THIS WEEK ARE TRACKING THE PRESIDENTIAL RACE |
00:02:38 | AND THE U.S. SENATE CONTEST IN OHIO BUT SO FAR THE DEMOCRATS |
00:02:41 | ARE IN THE LEAD. THE POLL SHOWS PRESIDENT OBAMA |
00:02:45 | AHEAD OF REPUBLICAN HOPEFUL MITT ROMNEY 47-41, AND OBAMA HAS A |
00:02:52 | LEAD OF SEVEN PERCENTAGE POINTS OVER RICK SANTORUM. |
00:02:54 | IT SHOWS THE INCUMBENT DEMOCRATIC SENATOR BROWN AHEAD |
00:02:58 | OF REPUBLICAN STATE TREASURER IN THE SENATE RACE, 46% TO 36%. |
00:03:04 | SUPPORTERS CALL IT RIGHT TO WORK, BUT CRITICS CALL IT THE |
00:03:09 | RIGHT TO WORK FOR LESS. BOTH SIDES ARE TALKING ABOUT THE |
00:03:13 | SAME THING, A PROPOSAL THAT WILL CHANGE OHIO LAW SO THAT NO |
00:03:17 | LONGER COULD UNION CONTRACTS REQUIRE WORKERS TO PAY MONEY TO |
00:03:21 | UNIONS IN ORDER TO GET OR KEEP THE JOB. |
00:03:24 | WHILE SOME TEA PARTY ACTIVISTS GATHERED PETITION SIGNATURES TO |
00:03:28 | PUT THAT IDEA ON THE BALLOT, A THINK TANK BOOSTING FREE-MARKET |
00:03:33 | IDEALS HAS RELEASED A STUDY APPLIED IN THE CONCEPT. |
00:03:36 | DR. RICHARD VEDDER IS A PROFESSOR OF ECONOMICS AT OHIO |
00:03:46 | UNIVERSITY AND HAS STUDIED LABOR LAWS IN 23 STATES THAT HAVE SO- |
00:03:50 | CALLED RIGHT TO WORK LAWS. >> STATES THAT HAVE RIGHT TO |
00:03:53 | WORK LAWS HAVE HAD HIGHER GROWTH RATES, JOBS, HIGHER INCOME, THAN |
00:03:59 | OTHER STATES. THE REASON IS FAIRLY SIMPLE, |
00:04:02 | EMPLOYERS PERCEIVE THAT IT IS MORE COSTLY TO DO BUSINESS IN |
00:04:07 | NON RIGHT TO WORK STATES. THAT IS WHAT THEY PERCEIVE AND |
00:04:11 | THAT PERCEPTION THESE DIRECTIONS. |
00:04:13 | AS A CONSEQUENCE, OUR RESOURCES HAVE MOVED FROM STATES LIKE |
00:04:20 | OHIO, MICHIGAN, AND OTHER MIDWEST INDUSTRIAL STATES TO THE |
00:04:25 | STATES IN THE UNION, A LARGE NUMBER OF WHICH ARE IN THE SOUTH |
00:04:29 | AND WEST, THAT HAVE THESE RIGHT TO WORK LAWS. |
00:04:32 | >> CRITICS OF THE RIGHT TO WORK PROPOSAL SAY THIS REPORT IS |
00:04:36 | ANOTHER ATTACK ON WORKING FAMILIES FROM THOSE WHO |
00:04:39 | SUPPORTED SENATE BILL 5, THE COLLECTIVE BARGAINING REFORM LAW |
00:04:44 | THAT WAS REPEALED LAST FALL. DENNIS WILL IT SPEAKS FOR WE ARE |
00:04:49 | OHIO, THE COALITION THAT BROUGHT SENATE BILL 5 TO LAST |
00:04:53 | FALL'S BALLOT. >> THERE'S NO PROOF THAT THAT IS |
00:04:56 | TRUE. THE PROFESSOR CONFESSED TODAY |
00:05:00 | THAT THE STATES WHERE THEY TAKE AWAY WORKERS' RIGHTS, THE WAGES |
00:05:04 | ARE LOWER, IT IS HARDER TO GET HEALTH CARE, AND THIS IS NOT |
00:05:08 | GOOD FOR OHIO BECAUSE THIS WOULD NOT BE GOOD FOR JOBS IN OUR |
00:05:12 | COMMUNITIES. >> THERE IS NO EVIDENCE THAT |
00:05:14 | WHEN YOU ISOLATE ONE ISSUE, LIKE TAKING AWAY WORKERS' RIGHTS, |
00:05:18 | THAT THAT LEADS TO ECONOMIC ACTIVITY. |
00:05:21 | THERE ARE MANY STUDIES THAT SHOW THE OPPOSITE. |
00:05:23 | IN THE STATES WHERE WORKERS RIGHTS ARE TAKEN AWAY FROM THEM |
00:05:29 | , THERE ARE LOWER WAGES, LOWER BENEFITS, LESS ACCESS TO HEALTH |
00:05:34 | CARE. >> THE BAUXITE INSTITUTE'S |
00:05:36 | REPORT HAS BEEN READY FOR MONTHS BUT IT WAS JUST RELEASED THIS |
00:05:39 | WEEK. -- THE BUCKEYE INSTITUTE'S |
00:05:46 | REPORT HAS BEEN READY FOR MONTHS. |
00:05:48 | THE NEW PRESIDENT SAYS THAT THE TRANSITION INTO ANY LEADERSHIP |
00:05:52 | GETS SOME OF THE BLAME FOR THAT. REPUBLICANS HAVE BEEN LUKEWARM |
00:05:55 | IN THE RECEPTION OF THE PROPOSAL, JUST MONTHS AFTER THE |
00:05:58 | OVERWHELMING DEFEAT OF SENATE BILL 5, WHICH WAS LED BY |
00:06:06 | UNION ACTIVISTS AND THEIR SUPPORTERS. |
00:06:08 | BUT WHEN ASKED IF THE INSTITUTE HAD BEEN ASKED BY REPUBLICANS TO |
00:06:11 | HOLD BACK ITS SUPPORT, THE PRESIDENT SAID HIS GROUP'S GOAL |
00:06:15 | IS TO GET INTO POLITICS BUT TO PROVIDE EDUCATION |
00:06:20 | INFORMATION IN THE DEBATE INTO THE DEBATE CONTINUES IN THE |
00:06:23 | VARIOUS HOUSE AND SENATE COMMITTEES ON THE GOVERNOR'S |
00:06:26 | BUDGET UPDATE, EVEN THOUGH THE HIGHEST PROFILE PROPOSAL WAS |
00:06:29 | STRIPPED OUT BY REPUBLICAN LAWMAKERS. |
00:06:31 | THAT COULD BE THE PLAN TO IMPOSE A SEVERANCE TAX ON UP TO 4% ON |
00:06:37 | OIL AND NATURAL GAS DRILLERS IN OHIO, TO FIND AN INCOME TAX CUT |
00:06:40 | THAT WOULD GO AS HIGH AS 5%. BUT THERE ARE MANY OTHER IDEAS |
00:06:45 | IN THIS MONSTER SIZE BILL, AND SOME OF THEM ARE ALMOST AS |
00:06:48 | STICKY. HERE TO TALK ABOUT THE BILL ARE |
00:06:54 | TWO MEMBERS OF THE FINANCE COMMITTEE ARE THE CHAIRMAN, |
00:07:04 | REPRESENTATIVE RON AMSTUZT AND IT REPRESENTATIVE MIKE FOLEY, |
00:07:14 | DEMOCRAT OF CLEVELAND. >> WHICH CAME BEFORE US, WE |
00:07:18 | REALIZED THAT IT WOULD BE A PROBLEM. |
00:07:20 | THIS WOULD PROBABLY TAKE UP 60% OF OUR ECONOMY EVEN THOUGH IT |
00:07:24 | WAS 62 PAGES OUT OF A 2833 PAGE BILL. |
00:07:29 | SO, WITH THAT IN MIND, WE FELT THAT THERE WERE ENOUGH |
00:07:33 | QUESTIONS IN THE PROPOSAL AS IT HAD BEEN DRAFTED AND GIVEN TO |
00:07:37 | US AND WE WANTED TO SET IT ASIDE FOR FUTURE WORK AND WE DID NOT |
00:07:43 | FEEL IT WAS REALLY READY TO BE INTRODUCED AND BROUGHT BEFORE US |
00:07:47 | IN COMMITTEE, GIVEN THE AMOUNT OF WORK THAT WE HAVE IN ALL THE |
00:07:52 | OTHER DOMAINS. IT WAS CLEARLY AN AREA OF POLICY |
00:07:54 | THAT HAD A GREAT DEAL OF INTEREST AND THAT INTEREST WAS |
00:07:58 | GOING TO MAKE IT DIFFICULT FOR US TO DO THE REST OF OUR WORK. |
00:08:01 | >> IT HAS ALREADY BEEN TAKEN OUT BUT THERE ARE QUESTIONS THAT |
00:08:05 | COME OUT ABOUT IT EVEN IN COMMITTEE. |
00:08:08 | >> THERE WAS IN THE BEGINNING OF THE PROCESS WHEN THE |
00:08:12 | ADMINISTRATION WAS EXPLAINING WHAT IS THAT THEY WERE ASKING US |
00:08:15 | TO DO, BUT THEN THAT DIED DOWN. THE ONLY TIME IT COMES UP IS |
00:08:21 | WHEN PEOPLE ARE PUTTING PROGRAMS TOGETHER. |
00:08:23 | >> SOME LAWMAKERS WHO COMPLAINED THAT THEY WERE CONCERNED ABOUT |
00:08:27 | NOT BEING THE MID BUDGET REVIEW BEFORE THE GOVERNOR AND POSTED |
00:08:32 | PUBLICLY. YOU WROTE A STATEMENT SAYING |
00:08:35 | THAT MEMBERS BEGAN OUTLINING THEIR INTENTIONS COME |
00:08:38 | RECOMMENDATIONS TO US AND THE PUBLIC BUT TODAY ON THE DAY IT |
00:08:41 | WAS RELEASED, THERE ARE ACTUALLY FINDINGS. |
00:08:44 | IS THERE SOMETHING THAT CAN BE DONE BEFOREHAND? |
00:08:54 | >> NOT ENTIRELY AND NOT MAINLY. THAT WAS PRECEDED BY A COMMENT |
00:08:58 | BY ME THAT THE ONLY TIME WE NORMALLY WOULD GET A BIG BILL |
00:09:06 | THAT WE HAD NOT SEEN IS THE OPERATING BUDGET. |
00:09:09 | THIS WAS ANOTHER BILL THAT IS NOT THE OPERATING BUDGET. |
00:09:13 | THIS IS A BUDGET CORRECTIONS BILL WITH A WHOLE LOT OF POLICY. |
00:09:18 | THIS IS NOT REALLY A BUDGET BILL EVEN THOUGH IT IS BEING CALLED A |
00:09:21 | BUDGET BILL, THIS IS REALLY A POLICY BILL THAT WILL AFFECT |
00:09:25 | MANY AREAS AND MANY POSITIVE WAYS, ACTUALLY. |
00:09:28 | IT DOES HAVE SOME PRETTY BIG POLICY PIECES IN ADDITION TO |
00:09:32 | MANY OF POLICY PER IMPROVEMENTS THAT ARE BEING RECOMMENDED. |
00:09:43 | IT WAS IT MINISTRATIONS DESIRE TO SPEND TIME PREPARING AND THEN |
00:09:46 | TO GIVE IT TO US IN THE FULL FORMAT THAT WE HAD NOT SEEN YET. |
00:09:50 | ALL THAT DID WAS MAKE IT NECESSARY FOR US TO ADD MORE |
00:09:55 | TIME TO OUR PROCESS AND TO GIVE THOSE THAT HAVE NOT HAD A CHANCE |
00:10:02 | TO READ THAT LANGUAGE. >> LET ME BRING WORKERS AT A |
00:10:11 | FULLY INTO THIS, DEMOCRATS AT LEAST LIKE THE IDEA OF A |
00:10:16 | SEVERANCE TAX PROPOSAL. OTHERS WERE CONCERNED ABOUT |
00:10:19 | WHERE THE MONEY WOULD GO. >> CORRECT. |
00:10:24 | FIRST, LET ME COMPLIMENT THE CHAIRMAN. |
00:10:27 | HE SAID, THERE IS GOING TO BE A SIGNIFICANT AMOUNT OF OPINIONS |
00:10:33 | AND WORK NEEDED TO GO THROUGH THE SEVERANCE TAX ISSUE AND I |
00:10:37 | THINK THAT HE IS RIGHT. IT HAS TAKEN HIS TIME TO GET OUR |
00:10:50 | ARMS AROUND IT AND THINK THROUGH SOME OF THIS. |
00:10:53 | WITH THE SEVERANCE TAX, I THINK I WAS HAPPY AND I HAVE STATED |
00:10:59 | PUBLICLY THAT I THINK THAT CHANGING THE WAY THAT WE TAX GAS |
00:11:03 | AND OIL, WHICH IS JUST ABYSMALLY LOW RIGHT NOW. |
00:11:09 | WE TAX IT ON VOLUME, NOT ON THE AMOUNT OF STUFF THAT IS SOLD. |
00:11:14 | THIS IS A REALLY SMALL AMOUNT. WE NEED TO -- IF THIS IS GOING |
00:11:19 | TO BE A BIG INDUSTRY IN OHIO, WE NEED TO HAVE A THOROUGH REVIEW |
00:11:22 | OF IT AND WE NEED A HEFTY TAX. THIS IS OUR STUFF, OUR TAX AND |
00:11:28 | OIL COMING OUT OF THE STATE OF OHIO. |
00:11:29 | PRIVATE COMPANIES ARE MAKING A LOT OF MONEY ON THIS AND I THINK |
00:11:33 | THAT WE DESERVE OUR FAIR SHARE. I'M HAPPY WE WILL HAVE A |
00:11:37 | SEPARATE DISCUSSION ABOUT THIS AND IT WILL CERTAINLY BE |
00:11:41 | OPINIONATED ON WHAT THE TAX STRUCTURE SHOULD BE. |
00:11:43 | >> WERE YOU CONCERNED ABOUT AN INCOME TAX CUT BEING FUNDED BY |
00:11:47 | THIS? WOULD YOU LIKE TO SEE IT GO |
00:11:49 | THERE OR SOMEWHERE ELSE? >> TO THE INCOME TAX THAT WAS |
00:11:58 | PROPOSED BY THE ORIGINAL PROPOSAL WAS PRETTY MINIMAL. |
00:12:01 | SO, WE SAW ONE REPORTED THAT SAID IT WAS $20-$40 A YEAR FOR |
00:12:07 | THE AVERAGE PERSON IN OHIO AS COMPARED TO NOT VERY MUCH RAISED |
00:12:11 | BY THE SEVERANCE TAX TO OFFSET IT. |
00:12:15 | LAST YEAR IN OUR BUDGET PROPOSAL, WE SAW A DARK LOCAL |
00:12:24 | GOVERNMENTS AND WE START TO THE LOCAL SCHOOL DISTRICTS. |
00:12:34 | SCHOOL DISTRICTS ARE HAVING TO RAISE THEIR LOCAL TAX STRUCTURES |
00:12:37 | IN ORDER TO FIND CUTS THAT WE HAVE IMPOSED ON THEM. |
00:12:41 | IT SEEMS TO ME THE STATE HAS AN OBLIGATION AND A DUTY TO MAKE |
00:12:44 | SURE THAT WE HAVE FULL AND ADEQUATELY FUNDED SCHOOLS AND I |
00:12:48 | DON'T THINK WE'RE DOING THAT RIGHT NOW. |
00:12:50 | MARION A POTENTIAL SEVERANCE TAX INCREASE WITH A TAX CUT, I DON'T |
00:12:57 | THINK THAT THAT MAKES SENSE, ESPECIALLY FOR THE MAJORITY OF |
00:13:00 | PEOPLE WHO IN THE STATE OF OHIO WHO ARE MAKING 30,000, $40,000 A |
00:13:07 | YEAR. WE COULD BE PUTTING THAT MONEY |
00:13:10 | TO BETTER USE. >> I THINK WE FIND A LEVEL OF |
00:13:16 | AGREEMENT HERE AND I APPRECIATE MY COLLEAGUE'S COMMENTS AS FAR |
00:13:19 | AS OUR APPROACH TO THE PROCESS. ONE OF THE LIMITATIONS OF THE |
00:13:25 | PROPOSAL AS IT CAME TO US WAS THE RELATIVE -- IT WAS A PRETTY |
00:13:32 | SMALL PROPOSAL IN TERMS OF WHAT WAS BEING DONE AS FAR AS THE |
00:13:37 | INCOME TAX. I THINK IT WOULD BE AN |
00:13:39 | INTERESTING TRYING TO DEVELOP A MORE ROBUST APPROACH IT TO THE |
00:13:45 | INCOME TAX. AT THE SAME TIME, WE RECOGNIZED |
00:13:47 | THAT WE HAVE A WHOLE RANGE OF PARTNERS THAT HAD A SHARE IN THE |
00:13:51 | PAIN OF THE STATE LOSING 22% OF ITS REVENUE IN TWO YEARS AND THE |
00:13:57 | FACT THAT WE TRANSFER 80% OF OUR GENERAL REVENUE FUND OUT TO OUR |
00:14:03 | LOCAL PARTNERS. THEY HAD TO BE PART OF THE |
00:14:08 | BALANCING OF THE BUDGET. THERE ARE DIFFERENT WAYS TO |
00:14:09 | BALANCE THE BUDGET. YOU CAN INCREASE REVENUES WITH |
00:14:13 | TAX INCREASES AND THEY CAN MAKE THESE AT LEVEL OR THEY CAN TRY |
00:14:17 | TO DO WHAT WE HAVE DONE AT THE STATE WHICH IS TO ACHIEVE |
00:14:21 | SERVICE LEVELS WITH 4% LESS REVENUES, WHICH IS TYPICALLY A |
00:14:27 | KIND OF PRODUCTION THAT HAS BEEN MADE IN MANY CASES FOR SCHOOLS |
00:14:31 | AND OTHERS. >> DO YOU WANT TO SEE MORE MONEY |
00:14:33 | GOING BACK INTO LOCAL GOVERNMENTS AND SCHOOLS? |
00:14:36 | >> I THINK RIGHT NOW, WE ARE ON A FAIRLY EVEN SCALE. |
00:14:42 | THERE HAS BEEN SOME REDUCTIONS MADE AND WE NEED TO STAY STEADY |
00:14:46 | WITH THE PLAN. THE PLAN IS PLAYING OUT ON THE |
00:14:48 | SPENDING AND REVENUE LEVEL PRETTY MUCH AS IT HAS BEEN LAID |
00:14:52 | OUT. WE NEED TO STAY STEADY AND AS WE |
00:14:56 | SEE THE REVENUE STARTING TO REGROW, AS PROJECTED, WE ARE ON |
00:15:01 | PROJECTED, WE CAN LOOK FOR OPPORTUNITIES TO HELP OUR LOCAL |
00:15:05 | PARTNERS FINANCIALLY. >> I WANT TO ASK YOU ABOUT THE |
00:15:09 | FINANCIAL INSTITUTIONS TAX THAT WILL REPLACE THE TWO-PRONGED |
00:15:12 | ATTACK SYSTEMS FOR BANKS AND THE FINANCIAL INSTITUTIONS. |
00:15:15 | YOU ARE BOTH ON THE WAYS AND MEANS COMMITTEE, YOU HAVE A |
00:15:19 | GROUP POLICY COMING OUT OF CLEVELAND THAT SAYS THAT THIS IS |
00:15:23 | TOO LOW. IS THIS TOO LOW? |
00:15:25 | >> I WANT TO COME UP WITH IT IN THE ADMINISTRATION BECAUSE THE |
00:15:31 | TAX GETS RID OF A WHOLE LOT OF LOOPHOLES AT. |
00:15:36 | GETTING RID OF SOME OF THESE EXPENDITURES IS A GOOD THING AND |
00:15:44 | HAVING A LEVEL PLAYING FIELD MAKES SENSE. |
00:15:46 | I THINK THE TAX RATE THAT THEY HAVE, I THINK IT IS TOO LOW. |
00:15:58 | YOU CAN KEEP IT AT THE CURRENT TAX STRUCTURE WHICH IS 1.3%. |
00:16:05 | >> THIS IS COMPLICATED FOR A LOT OF PEOPLE. |
00:16:09 | >> WHAT IS GOOD ABOUT GETTING THESE LOOPHOLES, THE FINANCIAL |
00:16:16 | INSTITUTIONS HAVE NOT DONE BADLY IN THIS ECONOMY. |
00:16:18 | IN OHIO, WE HAVE HAD A WHOLE BUNCH OF PROBLEMS AND THERE ARE |
00:16:28 | FOR CLOSURES THAT HAVE BEEN RESOLVED. |
00:16:29 | BASED ON THE FACT THAT THESE GUYS ARE DOING OKAY, I THINK |
00:16:37 | THAT WE CAN KEEP THE TAX RATE THE SAME, WE GET RID OF THE |
00:16:40 | LOOPHOLES. >> THE REP -- REP AMSTUTS, IS |
00:16:58 | THERE AN ADVANTAGE TO THIS STRUCTURE? |
00:17:00 | >> WHAT WE HAVE A DIFFERENT POINT OF VIEW ON THESE ISSUES. |
00:17:06 | MY SENSE IS THAT THE PROBLEMS THAT HAVE OCCURRED IN THE |
00:17:09 | BANKING INDUSTRY HAVE NOT BEEN OHIO CENTRIC AS MUCH AS THEY ARE |
00:17:13 | REALLY BIG BANKS THAT ARE NATIONAL IN SCOPE AND THAT OUR |
00:17:19 | CADRES OF FINANCIAL INSTITUTIONS IN OHIO HAVE BEEN GENERALLY VERY |
00:17:24 | RESPONSIBLE AND ARE ACTUALLY THE VICTIMS OF SOME OF THE OVER |
00:17:30 | REGULATION NOW THAT IS MAKING IT VERY DIFFICULT FOR OUR ECONOMY |
00:17:33 | TO COME BACK IN THIS STATE AND THAT IS VERY SERIOUS. |
00:17:36 | AS TO WHAT HAS BEEN PROPOSED IN THE BILL BEFORE US, THE GOAL |
00:17:43 | THERE FROM THE ADMINISTRATION PERSPECTIVE IS TO DO A REVENUE |
00:17:46 | NEUTRAL BILL THAT DOES NOT RAISE THE CRITICISM OF OUR RATES. |
00:17:52 | THIS WOULD BE A CRITICISM OF HOW THINGS ARE NOW. |
00:17:56 | THE SECOND QUESTION IS, IS THIS PROPORTIONALLY HELPING OR |
00:18:00 | HURTING LARGE VERSUS SMALL? IT HAS BEEN REPRESENTED TO US |
00:18:05 | THAT THE GOAL HERE IS TO FOCUS ON HELPING WITH LOWER RATES TO |
00:18:12 | SMALLER BANKS AND OTHER FINANCIAL INSTITUTIONS AND ALSO |
00:18:15 | STILL BEING HELPFUL TO EVEN THE LARGER ONES AS LONG AS THEY HAVE |
00:18:19 | NOT BEEN GAMING THE TAX STRUCTURE BY MET THIS THAT HAVE |
00:18:24 | BEEN EMPLOYED, WHICH IS ONE THE REASONS WHY THIS IS IN FRONT OF |
00:18:27 | US. HAVING SAID THAT, THERE ARE MANY |
00:18:30 | QUESTIONS ABOUT WHETHER THIS POLICY CONSTRUCT THAT HAS BEEN |
00:18:34 | PROPOSED ACTUALLY MIGHT BE VERY DIFFERENT IN THE WAY MOST OTHER |
00:18:39 | STATES TAX FINANCIAL INSTITUTIONS WHICH MIGHT THIS |
00:18:43 | ADVANTAGE OUR STATE. THERE ARE OTHER QUESTIONS WHICH |
00:18:45 | I THINK ARE VERY LEGITIMATE THAT NEED TO BE ANSWERED. |
00:18:48 | I AM NOT SURE WHERE THAT LEADS US IN OUR POLICY-MAKING PROCESS |
00:18:53 | HERE. >> THE GOVERNOR SAID THAT |
00:18:55 | CLOSING SOME OF THESE LOOPHOLES COULD SAVE TAXPAYERS AND BANKS |
00:18:59 | ARE USING THESE TO COST TAXPAYERS $30 MILLION A YEAR. |
00:19:04 | DO YOU THINK THAT CLOSING THESE LOOPHOLES WOULD BE THE RIGHT |
00:19:06 | CHOICE? >> WELL, THERE ARE LOOPHOLES AND |
00:19:13 | THEN THERE ARE LOOPHOLES. LET ME EXPLAIN. |
00:19:17 | RIGHT NOW, THERE ARE DEDUCTIONS THAT ARE AVAILABLE AND THAT IS |
00:19:20 | NOT WHAT WE'RE TALKING ABOUT WITH PEOPLE USING THE LOOPHOLES |
00:19:25 | AND GAMING THE SYSTEM. THERE IS ANOTHER POLL. |
00:19:28 | THE CORPORATE FRANCHISE TAX HAS THE POTENTIAL ABILITY TO CHANGE |
00:19:32 | THE NATURE OF YOUR COMPANY IN WAYS THAT MIGHT ALLOW YOU TO SEE |
00:19:42 | ESCAPE PAYING THE TAX. WHEN THEY GET IT READ OF THE |
00:19:46 | DEDUCTIONS, YOU ARE CHANGING A TAX BASE THAT YOU ARE TAXING |
00:19:49 | OFF. THAT IS A DIFFERENT THING. |
00:19:51 | THEY'RE PROPOSING BOTH. -- WHEN YOU GET RID OF THE |
00:19:59 | DEDUCTIONS, YOU ARE CHANGING THE TAX BASE. |
00:20:02 | MAYBE WE ARE DISPROPORTIONATELY AFFECTED SOME OF OUR SMALLER |
00:20:05 | COMMUNITY BANKS, FOR EXAMPLE, THAT WAS NOT THE INTENDED |
00:20:09 | PURPOSE. WE NEED TO BE VERY CAREFUL THAT |
00:20:11 | WE DO THIS IT ENOUGH PROCESS SO THAT WE KNOW WHAT WE HAVE OR |
00:20:15 | HAVE REASONABLE CONFIDENCE THAT WHAT WE'RE DOING WILL HAVE THE |
00:20:19 | POLICY THAT WE INTEND. >> I THINK ACTUALLY THE NUMBER |
00:20:27 | 30 MILLION IS LOW. LAST TIME I LOOKED AT THE TAX |
00:20:29 | EXPENDITURE REPORT, WHICH IS THE TAX CREDITS FOR TAXES WE'RE NOT |
00:20:34 | COLLECTING, IT WAS AROUND $100 MILLION A YEAR FROM FINANCIAL |
00:20:40 | INSTITUTIONS. I THINK THAT IS WHAT THE REASONS |
00:20:42 | WHY THINK THIS PROPOSAL IS INTERESTING IS BECAUSE IT GETS |
00:20:45 | RID OF THOSE AND WHETHER THAT RATE IS HIGH ENOUGH FOR MY |
00:20:49 | PURPOSES ARE WHAT I THINK IS NEEDED. |
00:20:52 | I THINK THAT OHIO HAS A ROBUST BANKING SYSTEM COMMUNITY AND |
00:20:57 | THEY DO WELL IN THE STATE OF A HIGH OF. |
00:21:02 | -- IN THE STATE OF OHIO. I THINK THAT A HIGHER RATE WITH |
00:21:11 | THEIR TAXING STRUCTURE SHOULD BE -- SHOULD NOT THIS |
00:21:18 | INCENTIVIZE THEM. >> THAT WE HAVE NOT EVEN TOUCHED |
00:21:24 | THE MOST OF THIS BILL BUT WE WANT TO ASK YOU, REP. AMSTUTZ, |
00:21:33 | YOU HAD ASKED FOR THIS BEFORE THE COMMITTEE VOTES. |
00:21:36 | >> THIS IS A NORMAL PROCESS THAT WE WOULD TAKEN A BUDGET. |
00:21:42 | THIS IS NOT QUITE AS NORMAL IN THE REGULAR BILL BUT EVEN IN A |
00:21:47 | REGULAR BILL PROCESS, WE NORMALLY SAY, WE HAVE HAD |
00:21:51 | HEARINGS AND NOW WE ARE READY TO START MOVING FORWARD IN THE |
00:21:55 | MARKET STAGE AND IN ORDER TO MAKE THAT AN ORDERLY PROCESS, WE |
00:21:58 | NEED MEMBERS ON BOTH SIDES OF THE AISLE TO FILE THEIR |
00:22:02 | AMENDMENTS SO THAT WE CAN LOOK AT THEM AND START TO MAKE SENSE |
00:22:06 | OUT OF THOSE PROPOSALS TO SEE WHAT IT IS WE MIGHT WANT TO DO |
00:22:10 | TO MARK UP THAT BILL THAT IS PENDING BEFORE US. |
00:22:12 | THE BEST WORK IS DONE IN COMMITTEE. |
00:22:16 | IT IS NOT GOOD TO START MAKING POLICY CHANGES AFTER OUR HOME |
00:22:22 | WORK HAS BEEN DONE AND WE HAVE DONE THE WORK IN COMMITTEE. |
00:22:25 | THAT IS WHEN YOU DO BAD POLICY. >> DO YOU STILL EXPECT DEMOCRATS |
00:22:30 | TO PROPOSE AMENDMENTS ON THE FLOOR? |
00:22:32 | >> WE WILL SEE. I WOULD THINK SO. |
00:22:34 | WE ARE WHO WE ARE, WE ARE OPINIONATED, WE HAVE IDEAS, AND |
00:22:46 | WE WANT AS MANY OPPORTUNITIES AS POSSIBLE TO PROPOSE THOSE IDEAS. |
00:22:50 | I THINK THAT THE CHAIRMAN IS PUSHING US. |
00:22:55 | IT HAS BEEN A QUICK PROCESS BUT I THINK THAT WE ARE PREPARED FOR |
00:23:00 | IT AND WE ARE FORCED TO FOCUS AND HUNKERED DOWN INTO THE WORK. |
00:23:06 | >> DO YOU HAVE A HIGH EXPECTATIONS FOR THEM? |
00:23:18 | >> I HAVE THE HIGHEST EXPECTATIONS. |
00:23:21 | I KNOW THE CHAIRMAN WILL LOOK AT OUR PROPOSALS AND LOOK AT THIS. |
00:23:25 | >> MY SUSPICION IS THAT WE WILL HAVE SOME CONVERGENCE OF |
00:23:28 | AMENDMENTS BASED ON INITIAL CONVERSATIONS I HAVE HAD WITH MY |
00:23:31 | FRIENDS IN THE OTHER SIDE OF THE AISLE. |
00:23:34 | THERE ARE SOME THINGS THAT WE CAN AGREE ON AND WE CAN GET SOME |
00:23:38 | AMENDMENTS THAT LOOK VERY SIMILAR. |
00:23:39 | WE WILL SEE. >> WILL THIS LAW CONTINUE DURING |
00:23:43 | THE SPRING BREAK? YOU'RE GOING HOME FOR EASTER. |
00:23:48 | >> THIS WILL AFFORD US THEIR OPPORTUNITY TO WORK THROUGH |
00:23:51 | THOSE AMENDMENTS BECAUSE IT WILL PROBABLY BE A BIG STACK. |
00:23:55 | >> WILL THE HEARINGS CONTINUE? >> NO, WE WILL TAKE A PAUSE FROM |
00:24:00 | THOSE AND BRING THEM BACK WITH A SUBSTITUTE MARKED UP BILL IN |
00:24:05 | FRONT OF US AND WE WILL FURTHER MARKET UP AS WE TRY TO MAKE THE |
00:24:08 | BEST PRODUCT WE CAN IN THE HOUSE. |
00:24:11 | >> WHEN THE BUDGET CAME OUT, THIS IS KIND OF A HALFWAY |
00:24:16 | BETWEEN TWO YEARS BUDGET. THIS IS KIND OF UNUSUAL. |
00:24:19 | >> I WOULD NOT DESCRIBE THIS AS A BUDGET, THIS IS A SEQUEL TO A |
00:24:24 | BUDGET THAT HAS SOME PARTS THAT WERE LOGICAL EXTENSIONS OF WHAT |
00:24:28 | THE BUDGET CALLED FOR. IN OTHER CASES, IT IS |
00:24:34 | CORRECTIVE. WE ALMOST ALWAYS HAVE A |
00:24:36 | CORRECTED BILL AT THIS TIME. WHAT IS DIFFERENT IS SOME VERY |
00:24:42 | MAJOR POLICY ADJUSTMENTS IN REWORKING HOLD APARTMENTS |
00:24:47 | PROCESSES AND THAT USUALLY HAPPENS AND OTHER BILLS THAT ARE |
00:24:51 | SEPARATE FROM ANY BUDGET PROCESS WHERE WE HAVE A ROLE OF THE |
00:24:56 | DEPARTMENT OF NATURAL RESOURCES OR THE DEVELOPMENT OF |
00:24:58 | DISABILITIES DEPARTMENT. WHAT IS UNUSUAL IS THAT THEY |
00:25:02 | ARE PART OF THE PROCESS. >> AFTER DEALING WITH THE BUDGET |
00:25:08 | LAST YEAR, WERE YOU EXPECTING TO FIGHT AGAIN ON THESE ISSUES? |
00:25:10 | >> I DON'T THINK THAT WE WERE EXPECTING TO FIGHT AGAIN. |
00:25:14 | THIS IS SUCH A BIG DOCUMENT. THERE ARE ALL THESE BUDGET |
00:25:18 | CORRECTION BILLS THAT OCCURRED. WE HAVE TO REACT WHERE WE CAN |
00:25:40 | REACT AND PROPOSAL WE THINK ARE GOOD IDEAS AT EVERY OPPORTUNITY. |
00:25:45 | TO THE CHAIRMAN'S CREDIT, HE HAS GIVEN US THIS ABILITY. |
00:25:50 | >> REP REP. RON AMSTUTZ, REPRESENTATIVE MIKE FOLEY, THANK |
00:25:58 | YOU FOR BEING HERE. AND THAT IS IT FOR THIS WEEK. |
00:26:04 | FOR MY COLLEAGUES AT OHIO PUBLIC RADIO AND TELEVISION, THANKS FOR |
00:26:08 | WATCHING. IF YOU LIKE TO ASK QUESTIONS, |
00:26:10 | MAKE COMMENTS, PLEASE VISIT OUR WEB SITE. |
00:26:13 | YOU CAN ALSO CHECK US OUT ON FACEBOOK. |
00:26:15 | AT LEAST JOIN US AGAIN NEXT TIME FOR "STATE OF OHIO." |
Note : Transcripts are compiled from uncorrected captions