Lawmakers now silent on payday lending
The Columbus Dispatch Monday July 16, 2012 6:47 AM
Before 2010, the Progressive Action for Ohio Political Action Committee was a tiny operation, raising little money and making political donations of a few hundred dollars here and there.
But that year, four PACs representing the payday-lending industry and two executives of a payday-lending company suddenly contributed $6,500 to Progressive Action, more than the total raised by the PAC in the previous four years combined. That included $4,500 from payday lender Advance America, by far the largest single contribution the PAC had ever received.
Summer pledge
Published: July 12, 2012 - 06:37 PM | Updated: July 12, 2012 - 06:56 PM
Three years ago, the state’s five public pension systems proposed changes to shore up their financial positions. In May, the Ohio Senate finally acted, largely approving the steps designed by the systems. The House insisted that it would wait until yet another study of the pensions was completed. On Tuesday, the study arrived. Now Speaker Bill Batchelder pledges to take action this summer — not a moment too soon.
One conclusion to draw from the study conducted by Pension Trustee Advisors/KMS Actuaries is that lawmakers would have done well to act earlier. Make no mistake, the systems are sound, especially the Ohio Public Employees Retirement System (OPERS). All do need to make adjustments in view of rising health-care costs, growing ranks of public retirees and rocky investment returns, part of the fallout from the harsh recession.
Manufacturing jobs focus of Ohio task force
Group formed to work on reindustrialization of the state
By Steve Bennish, Staff Writer Updated 1:47 PM Wednesday, July 11, 2012
Dayton Daily News
DAYTON — The Ohio House has created a manufacturing task force to guide the reindustrialization of the state, which has lost hundreds of thousands of manufacturing jobs in recent years but still produces more than $73 billion in goods annually.
Speaker of the Ohio House William G. Batchelder, R-Medina, announced the Ohio House’s 21st Century Manufacturing Task Force to connect “Ohio’s manufacturing community, public policy makers and others to improve Ohio’s manufacturing competitiveness in the 21st century.”
Kasich Says Severance Tax Increase To Benefit Small Farms Through Income Tax Cut
Gonwer 7/13/12
Gov. John Kasich on Friday restated his call for an increase in taxes on the oil and gas industry to provide for a future income tax cut for the entire state.
The governor also said he has found a key supporter for the change in former Department of Agriculture Director Fred Dailey, who said the state's severance tax "begs to be modernized."
The governor's comments met with dissent from a variety of interests who expressed concern for farmers earning well royalties, local governments cut in last year's budget and water safety.
The oil and gas industry is subjected to a low tax rate in Ohio, Mr. Kasich said, but the big companies that are expected to come to the state for hydraulic fracturing will take their earnings out of the state.
He called for the increased severance tax to facilitate an income tax cut because "Ohio's taxes are too high," falling in the top third of state and local income taxes, he said.
