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Ohio governor eyes plan to lower withholding taxes

Ohio Gov. John Kasich wants to use a projected budget surplus to fill up the state rainy day fund and lower withholding taxes.

The tax proposal isn’t a cut but would provide $152 million to Ohioans through reduced withholding now instead of expected tax returns next year.

The Republican governor said Tuesday he’ll decide whether to act after looking at a couple more months of state revenue.

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The proposal, based on a projected $368 million surplus, would add $68 million to the rainy day fund. That would push it to about $2.75 billion, the upper limit under Ohio law.

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The governor, who leaves office at year’s end, warned against tapping the fund for pet projects down the road instead of saving it for tight budget times.

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