OAKWOOD, Ohio (WDTN) - Ohio Governor John Kasich revealed his $64 billion, two-year, budget plan in Columbus Monday that's designed to reduce state income business taxes through hikes in other areas, boost school funding and expand Medicaid.
Kasich's plan calls for the personal income tax paid by owners of small businesses to be cut by 50% on their first $750,000 of earnings. The Governor believes this move will free up $1.9 billion of capital over three years. Kasich proposed to also cut personal income tax by 20% for all brackets over the next three years. The state sales tax would also drop from 5.5% to 5.0% under the plan. The base of services that are included in the tax would be broadened.
"We are thrilled to have the support of the Governor," said Moniqua Suites, who is a sales representative with Get Dressed Boutique.
The small, privately owned boutique has been nestled in the shops of Oakwood for 21 years.
"We carry unique fashions you would normally have to travel to New York, Chicago, or LA to find, but you can find it here," said Suites. "We sell a wide variety of clothing, jewelry and other accessories."
'Get Dressed Boutique' attributes its success to its faithful customers.
"Business is always indicative of economic conditions, but we really appreciate the support that the local community has given to our store."
Now, both of owner and operator of the boutique are optimistic that more support is on the way after learning of Governor Kasich's recent budget proposal.
"We believe that the small business entrepreneur is truly the financial backbone of a strong economy so this says to us that the Ohio Governor is truly in support of the small business person."
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