Ohio Senate Releases its Budget

Says "No" to Dealer-Related Tax Increases

Says "NO" to Dealer-Related Tax Increases

This week the Ohio Senate unveiled its version of the state budget (House Bill 64). OADA is happy to report that the Senate shied away from the Governor's proposal to increase dealer-related taxes to fund an income tax rate cut. Like the Ohio House version, the Senate version does not include the Governor's plan to raise the CAT & sales tax rates, expand the sales tax to numerous services used by dealers, cap the vendor discount, or reduce the trade-in credit. Instead, the Senate version provides income tax relief using existing resources as well as an increase in the cigarette tax.

OADA appreciates the efforts of Senate President Keith Faber (R-Celina) and members of the Ohio Senate for putting together a package that will help move our industry forward. It is important to note Senate members recognized dealer grassroots efforts in their decision making. OADA would like to thank dealers who contacted their state senators on this important issue.

What's Next?  The full Senate is expected to vote on the bill next week. A Senate & House Conference Committee will then meet to iron out differences between the two chambers. The bill will then be sent to the Governor for his signature, which is required by June 30, 2015.

OADA will keep dealers apprised as the budget process continues. Dealers may contact Tim Doran (tdoran@oada.com), Joe Cannon (jcannon@oada.com) or Zach Doran (zdoran@oada.com) with any questions regarding House Bill 64.