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In this current fiscal year — which runs from July 1, 2023 to June 30, 2024 — Kent State reduced its projected spending by $18.4 million, about 3% of the university’s annual budget ...
Ohio's budget is a massive document that explains how the state will spend $190 billion over the next two fiscal years. From universal vouchers to working from home: How Ohio's two-year budget ...
“Budget cuts could harm middle-class and lower-class families, who rely more on public services like healthcare and education, putting aside the tax cut’s positive effects.”
A number of states have a two-year or three year budget (e.g.: Kentucky) while others have a one-year budget (e.g.: Massachusetts). In the table, the fiscal years column lists all of the fiscal years the budget covers and the budget and budget per capita columns show the total for all those years.
The Ohio Fair School Funding Plan and its predecessors from prior legislative sessions are the first major attempts at a large-scale overhaul in Ohio in decades. [ 2 ] Currently, the state’s education funding law is an attempt to “equalize education for all Ohio children, regardless of how rich or poor their community is,” according to ...
Budget sequestration was first authorized by the Balanced Budget and Emergency Deficit Control Act of 1985 (BBEDCA, Title II of Pub. L. 99-177). This is colloquially referred to as the Deficit Control. [2] They provided for automatic spending cuts (called "sequesters") if the deficit exceeded a set of fixed deficit targets.
Apr. 14—COLUMBUS — Ohioans would see an across-the-board 2 percent income tax cut totaling $380 million under a proposed two-year budget unveiled Tuesday in the state House of Representatives.
When a government freezes a budget, taxes can be reduced. When a budget freeze successfully lowers the amount of money that a business or government spends, the act of freezing the budget can gain positive media for saving money. Some believe that this, rather than the actual reduction in costs, is often the reason behind a budget freeze.