| 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
