In the midwestern state of Ohio, a tax credit plan that was previously voted down by the governor may be voted into place by the legislature in the coming weeks. This tax credit plan aims to create rural jobs. Around six months ago, Governor John Kasich vetoed the $60 million plan. However, a similar plan of 45 million dollars is being considered by the legislature.
Some of the concerns that caused Governor John Kasich to veto that plan have been taken into account. Steps will be taken to ensure the money does indeed go to rural businesses. Critics say, however, that certain issues still remain. One of these issues is a lack of accountability and the possibility that private firms will take advantage of this plan.
Bob Peterson, a Republican representative from Ohio, said that this plan is not ideal in an ideal economy, but the rural economy in Ohio has been suffering, and there is a need for tax credits.
In the new plan, steps have been taken to ensure that the money does indeed go to rural businesses. Rural communities will be defined as having 200,000 residents or less. In addition, there is no longer a requirement for the money to go to high growth opportunities. John Kasich was concerned that the money would end up going to businesses that did not fit the description of being rural, which is why he vetoed the previous plan. However, he has been in talks with the legislature in creating this new plan, although there is no certainty yet that he will approve it.
Critics of the plan say that the money can be used for better purposes. In addition, they are concerned about possible fraud. They think that the current plan is no different than the previous one.